London — European stocks edged up on Wednesday as a record high for US stocks outweighed simmering worries over a resurgence in coronavirus cases that could undermine a nascent recovery.
But oil and gas, utilities and mining shares weighed, with BP and Royal Dutch Shell losing around 0.6% as crude prices fell on worries about demand and rising Covid-19 cases in Europe. Money has poured into US growth stocks — the tech giants and retail titans that have benefited most from the recovery — as investors worry that in the absence of a vaccine a rise in coronavirus cases could further hurt “value” shares.
The benchmark S&P 500 surpassed its February all-time high, hit just before the onset of the Covid-19 pandemic pummeled stocks to lows on March 23. It has surged about 55% since those lows, fueled by monetary stimulus packages even as alarm bells ring over the underlying health of the economy and negotiations over fiscal stimulus in Washington drag on.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sanofi buys US biotech company Principia for $3.4bnPrincipia shares climb 11% after the French drugmaker announces the all-cash offer that will see it take full control
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »