Mon. Nov 23rd, 2020

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European stocks opened dull due to fresh coronavirus cases

1 min read

European stocks

European stocks are heading for a lackluster open on Friday as spiraling coronavirus cases around the world and a U.S. Treasury decision to spike pandemic relief programs weigh on sentiment.

Britain’s FTSE 100 is poised to open around 11 points higher at 6,345, Germany’s DAX is seen just a single point lower at 13,085 and France’s CAC 40 is also set to inch a point lower to 5,474, according to IG data.

Treasury Secretary Steven Mnuchin on Thursday announced plans to allow several of the Federal Reserve’s emergency lending programs to expire on Dec. 31, reducing the central bank’s ability to shore up the financial system.

However, Senate Majority Leader Mitch McConnell, R-Ky., has agreed to resume negotiations with congressional Democrats over a long-awaited federal Covid-19 relief bill, Sen. Chuck Schumer, D-N.Y., revealed Thursday.

Direct Brexit talks have been suspended after a member of the EU team tested positive for Covid-19 on Thursday, but chief negotiators and their respective teams have continued discussions remotely in the hope of thrashing out a deal within the next 10 days.

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