Investors warm to Europe as Biden lead, virus fears rattle Wall Street | Malay Mail

Saturday, 27 Jun 2020 09:46 AM MYT

The US stock market has consistently outperformed Europe since the 2016 election of Trump, which was followed by a rally widely dubbed the “Trump bump”. Among factors boosting European assets is Europe's relative success in gradually reopening its economy and the European Union's proposed €750 billion recovery fund to help countries deal with the fallout from the coronavirus crisis.

“There's a very strong re-rating potential for the European market which has long been underinvested and undervalued.” Similarly, Goldman Sachs upgraded its rating for Europe to “overweight” for the next three months, citing “a combination of favourable tailwinds”. Opinion polls give Biden a substantial lead over Trump both nationally and in key states, and betting odds currently give the Democrat candidate a 60 per cent chance of winning.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks sink as US virus concerns offset Europe rebound hopes | Malay MailNEW YORK, June 27 ― Global equities sank and perceived safe-haven assets like US Treasuries and gold gained yesterday as investors weighed hopes that Europe will continue to rebound from the coronavirus pandemic's economic damage against concerns over a record surge in new Covid-19 infections in...
Source: malaymail - 🏆 1. / 86 Read more »

US stocks retreat on disturbing virus trends, banks lower | Malay MailNEW YORK, June 26 — Wall Street stocks fell early today as rising coronavirus cases continued to slow the US recovery and bank shares tumbled after the Federal Reserve barred banking share buybacks. About 15 minutes into trading, the Dow Jones Industrial Average was down 1.1 per cent to...
Source: malaymail - 🏆 1. / 86 Read more »