Mainland Chinese stocks were higher by Tuesday as most investors considered the possible impact the coronavirus outbreak would have. Even though there were as many as 425 deaths, investors were urged by Chinese state media outlets to remain calm and avoid panic over the market dive in the Chinese markets a few days before.
Over the pond, recent reports show that markets traded higher than usual last week and European investors left their economic fears of the Coronavirus outbreak aside. Europe Stoxx 600 rose to 0.10% in earlier deals and basic resource stocks went up close to 3% to lead gains. Additionally, most sectors and stock markets entered positive zones.
Most markets though will be focused on trade talks between the UK and the EU after the finalisation of the Brexit deal. Both the UK and EU will need to make their future relationships clear, but obstacles in trade talks may likely be found as well as some areas for compromise.
Other stocks showed promise like Carlsberg who had reported full-year sales aligned with their predictions and forecast organic profit growth in the year 2020, which sent shares up by 1.6%.
Energy organisation BP also reported an unexpected full-year net profit with shares climbing 3.5%.
Ambu, a hospital equipment maker based in Denmark, rose 15% and reported a sales increase for the first quarter of 2020.
The fact of the matter is; most investors are taking the outbreak of the Coronavirus seriously yet they don’t allow it to affect their ability to continue investing. It’s clear that earnings remain in focus for investors in Europe and they’ve brushed this fear away for the moment.
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