European equities rose on Monday morning as investors apparently shrugged off the growing coronavirus death toll.
The pan-European Stoxx 600 rose 0.2% higher in early trading, having initially opened in red. Cars added 1% to make money while the food and beverage sector slipped 0.9% less.
Global markets are reacting to news that coronavirus has killed over 500,000 people worldwide, according to data collected by Johns Hopkins University. The number of confirmed infections has exceeded 1
The United States accounts for over 20% of all reported deaths caused by Covid-19, more than any other country in the world, according to the data, followed by Brazil, the United Kingdom, Italy and France. However, country-to-country comparisons of the death toll are difficult due to differences in reporting methods.
Shares in Asia Pacific fell on Monday due to the data as well as a drop in oil prices, which fell for a second consecutive session Monday following data showing an increase in coronavirus cases, which led to reimposition of localized blocks in some countries that could affect oil demand.
There are no major gains in Europe on Monday. On the data front, an indicator of the euro zone’s economic sentiment for June is released at 10 am London time.
The biggest engines
Wirecard shares increased by more than 100% in early trading, although this represented only a small increase in the real share price to € 2.58 per share ($ 2.90) following the recent stock crash following the $ 2.1 billion missing from the balance sheet of the German payment company. The Austrian chipmaker AMS gained 6.4%.
There were no major losses at the start of the session, with Danone falling 3.4% to the bottom of the European blue chip index.