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Dealmaking, Trump’s health update boost European stocks | Malay Mail

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LONDON, Oct 5 — European stocks gained today, lifted by dealmaking activity and an upbeat global mood following positive updates of US President Donald Trump’s health. The pan-European STOXX 600 index was up 0.6 per cent, adding to last week’s near-two per cent gain. Sectors considered more...

A car with US President Trump drives past supporters in a motorcade outside of Walter Reed Medical Center in Bethesda, Maryland October 4, 2020. — AFP pic

That was despite a 27.3 per cent plunge in Cineworld after the world’s second-biggest cinema chain said it would close all of its UK and US movie theatres later this week, leaving as many as 45,000 workers unemployed. “If he is recovering relatively well, that means stability because if it turns out that Trump gets ill and might not be able to run any campaign, that creates a lot of questions,” said Teeuwe Mevissen, a senior macro strategist at Rabobank.

IHS Markit’s final composite Purchasing Managers’ Index fell to 50.4 in September from August’s 51.9, close to the 50-mark separating growth from contraction.

 

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