European markets advanced on Friday morning, looking to bounce back from steep losses in the previous session, with the rapid spread of coronavirus through the continent remaining on investors’ radar.
The pan-European Stoxx 600 climbed 0.8% by mid-morning trade, with autos jumping 2.5% to lead gains while telecoms bucked the upward trend to fall 0.5%.
With countries across Europe reimposing social restrictions amid a spike in Covid-19 cases and hopes dwindling over a U.S. stimulus deal, markets took a tumble Thursday.
U.S. President Donald Trump suggested on Thursday that he is prepared to up the $1.8 trillion package in a bid to secure approval from congressional Democrats, but the suggestion was shot down by Republican Senate Majority Leader Mitch McConnell.
European Union has urged the U.K. to cede ground in negotiations over a new trading relationship or face significant trade disruptions at the end of the year, a move Britain called “disappointing.”