Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stock Futures Lower; Fresh Covid-19 Warning

Stock MarketsMar 02, 2021 02:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse 

Investing.com - European stock markets are seen opening lower Tuesday, handing back some of the sharp gains made during the previous session as investors digest a fresh warning about the coronavirus.

At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.6% lower, CAC 40 futures in France dropped 0.2% and the FTSE 100 futures contract in the U.K. fell 0.3%.

The number of new coronavirus infections globally rose last week for the first time in seven weeks, the World Health Organization said on Monday. 

WHO Director-General Tedros Adhanom Ghebreyesus said the rise in cases was "disappointing but not surprising", warning that it was too early for countries to rely solely on vaccination programmes and abandon other measures.

Many European countries remain in lockdown, but discussions are underway over the timing of when these restrictions are lifted.

Global equity markets posted hefty gains on Monday, helped by positive news about another Covid-19 vaccine as well as progress in the U.S. $1.9 trillion stimulus bill. In Europe, Germany's DAX, France’s CAC 40 and the FTSE 100 in the U.K. all closed 1.6% higher.

That said, investors continue to debate whether many markets are over-extended following huge stimulus injections to counter the impact of the pandemic. The prospect of faster inflation as the world economy recovers has led to concerns that monetary policy may have to be tightened sooner than expected. 

German retail sales fell sharply in January, dropping 4.5% on the month. This still represented something of an improvement from December’s sharp 9.1% drop, but was a lot weaker than had been expected.

German unemployment data and flash euro-zone inflation data for February are due later in the session

In corporate news, earnings come from the likes of Man Group (LON:EMG), Travis Perkins (LON:TPK) and Taylor Wimpey (LON:TW).

Oil prices weakened Tuesday, as traders turned their attention towards the upcoming meeting of the majority of the world’s top producers amid concerns they will sanction an increase in global supply.

The Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, is due to meet on Thursday, and could discuss allowing as much as 1.5 million barrels per day of crude back into the market given the recent hefty price rises. The group is currently holding back some seven million barrels per day, or 7% of global supply, from the market.

Also of interest will be U.S. crude oil supply data from the American Petroleum Institute, due later in the session.

U.S. crude futures traded 0.9% lower at $60.11 a barrel, while the international benchmark Brent contract fell 1% to $63.08. 

Elsewhere, gold futures fell 0.2% to $1,720.25/oz, while EUR/USD traded 0.2% lower at 1.2020.

 

European Stock Futures Lower; Fresh Covid-19 Warning
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Patrecia Sapulette
Patrecia Sapulette Mar 02, 2021 3:12AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Peter "nurse" -> might be covid related reason.
Shandy Gehlot
Shandy Gehlot Mar 02, 2021 2:52AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what's the kidding going on
Eric Si Tho
Eric Si Tho Mar 02, 2021 2:52AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
U made my day
edoardo edojad
edoardo edojad Mar 02, 2021 2:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what are you talking about..
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email