European Stocks Gain on Trump’s Health Assessment – 05 October 2020

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 In Europe, 5,343,974 cases have been reported until now, as well as 225,124 total deaths. 

On Monday morning risk appetite took over the European stock markets after the White House reported that US President Donald Trump’s health is improving.

On Friday, Donald Trump, who recently confirmed that he was infected with Covid-19, was flown to a hospital to receive treatment, which spread fears and uncertainty given that his age makes him more vulnerable. On Sunday, Trump briefly left the Walter Reed hospital in an SUV to greet his followers, exiting quarantine. This move was heavily criticized since many considered that the President was putting his Secret Service agents at risk.

“I really appreciate all of the fans and supporters outside of the hospital. The fact is, they really love our Country and are seeing how we are MAKING IT GREATER THAN EVER BEFORE!,” posted Trump on his Twitter account.

So far, 7,636,912 COVID-19 cases have been reported in the United States, while 214,611 have perished because of the virus. In Europe, 5,343,974 cases have been reported until now, as well as 225,124 total deaths. 35,406,974 cases have been reported worldwide, as well as 1,041,893 deaths.

By 7:14 GMT the European stock markets were mainly in the positive territory. The DAX was at the 12,757.05 level, gaining 0.54 percent, followed by the CAC 40, which gained 0.67 percent, hitting the 4,857.14 level. The IBEX 35 hit the 6,817.00 level, gaining 0.93 percent, followed by the Euro Stoxx 50, which gained 0.56 percent, hitting the 3,208.65 level. The UK 100 gained 0.70 percent, hitting the 958.2 level, followed by the Italy 40, which gained 0.61 percent, hitting the 1,869.8 level.

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The Bank of Japan Governor, Haruhiko Kuroda said that uncertainty regarding Japan’s economic outlook is very high, given the impact of the sanitary crisis in the global economic performance. Despite this, the bank’s baseline scenario is for Japan’s economy to improve, assuming that the pandemic subsides.

“But the pace of any recovery will be moderate as caution over the pandemic continues,” said Kuroda, adding that the bank is willing to take additional easing steps to minimize the impact of the pandemic in the economy.

So far,  85,339 COVID-19 cases have been reported in Japan, as well as 1,597 total deaths.

By 7:29 GMT the US dollar gained 0.26 percent against the Japanese Yen, hitting the 105.60 level.

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