European stocks edge lower amid rise in Asian coronavirus cases

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Good morning. ☕ 🇹🇼 Taiwan's Taiex fell 3% on new coronavirus-related restrictions. 🇨🇳 Chinese data missed expectations. ✈️ Ryanair reported a jump in bookings for April. 🇺🇸 U.S. stock futures were slightly lower

European stocks edged lower on Monday, as investors weighed signs that COVID-19 infections are continuing to spread in Asia, even as fears about inflation appear to have subsided.U.S. stock futures ES00, -0.19% also were perched lower.

After a week of intense debate about inflation, the yield on the 10-year Treasury TMUBMUSD10Y, 1.625% was 1.62% — up just 2 basis points from the previous Monday. “Some mixed activity data from China are a reminder that even that economy is not fully through the pandemic’s effects,” said Ian Williams, strategist at U.K. broker Peel Hunt.A number of Asian stock markets, most notably Japan NIK, -0.92% and Taiwan Y9999, -2.99%, dropped on worrying coronavirus developments.

Ryanair Holdings RYA, +0.59% RYAAY, +1.20%, the Irish discount airline, edged up 2%. It recorded a €1 billion annual loss in the year to March 30 and said bookings have jumped significantly from a very low base since the first week of April. “Ryanair, like its ultra-low-cost peer Wizz Air WIZZ, -1.15%, weathered the crisis far better than its legacy counterparts. It also stands ready to hoover up the pent-up demand for foreign holidays we’re about to see as rules on international travel finally ease,” said Jack Winchester, an analyst at Third Bridge.

Diploma DPLM, +6.47%, a maker of specialty instruments, climbed 7%, after hiking its profit forecast and reporting a 33% rise in adjusted operating profit in the first half.

 

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