Global stocks gain on promise of European rebound

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Global stocks gain on promise of European rebound
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European corporate earnings offset worries over surging Covid-19 cases in parts of Asia

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London — Global stocks gained on Wednesday as early indications of a rebound in European corporate earnings offset concerns over rising Covid-19 infections in Asia that have dampened oil prices.

Stocks in Tokyo also slumped by 2% due to the growing likelihood that Tokyo, Osaka and surrounding areas will be put under lockdown due to a new wave of coronavirus infections. Italian football club Juventus slumped 10% after the breakaway European Super League was rocked by the departure of its six English clubs.

Analysts said they were looking for steers from the European Central Bank on Thursday, followed by the US Federal Reserve and Big Tech earnings on Wall Street next week.S&P 500 e-mini stock futures were slightly firmer, indicating a potential modest rebound from Tuesday’s sell-off on Wall Street.

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