European stocks seen modestly higher as investors monitor economic recovery, coronavirus

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European stocks are set to open cautiously higher Friday as investors continue to monitor coronavirus developments and the prospects of economic recovery.

Europe's markets look set for a mixed handover from Asia Pacific, where strong gains for Australia's "Big Four" banks led a rally for thefutures are pointing to a positive open Friday's, hoping to avoid losses for the week after swinging to slight gains on Thursday.

The prospect of further U.S. stimulus remains a key focus, with Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin telling Congress on Thursday that $380 billion left over from the country's last federal aid package could be used to help households and businesses if lawmakers sign off.

House Democrats are preparing a $2.4 trillion relief package that they could vote on as soon as next week, . The package would include airline aid and enhanced unemployment benefits, but the price tag far exceeds that Republicans have said they would pay.

 

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