European stock exchanges opened slightly below on Monday as investors are concerned about the increasing number of people infected with coronavirus
World Health Organisation reported a record increase in new coronavirus infections worldwide on Sunday (183020), with North and South America accounting for the largest increase.
Johns Hopkins University reported more than 8.9 mln cases worldwide and over 468,000 deaths as of June 22.
After a tough sell-off earlier this year, indices have risen globally in the past 3 months, driven by massive monetary and tax incentives around the world and the hope that the pandemic has already passed its peak.
We can probably wait for new support measures, although EU leaders failed to agree on a €750 billion recovery last week. This was expected, given that several Nordic countries have openly opposed the plan to give most of the money in grants rather than loans.
On Monday there are few economic statistics, but the report on consumer confidence in the Eurozone will give an idea of how quickly the mood is recovering as the economy gradually recovers.
Oil prices fell on Monday amid fears that a record increase in the number of new coronavirus diseases in the world could constrain the recovery in fuel demand.
At 02:10 EST (06:10 UTC) American futures for WTI fell by 0.4% to US$39.66 per barrel. International benchmark Brent fell by 0.2% to US$42.12 per barrel.
Gold futures rose by 0.7% to $1,765.05 per ounce, while EUR/USD traded at 1.1966, up 0.2%.