European stock markets have already put in a stellar performance in 2020 with many indexes hitting record highs in recent days. With the results season underway, Stoxx 600 companies are seen reporting 1.2% earnings growth in the fourth quarter, according to IBES Refinitiv, marking the end of a nine-month corporate recession in Europe.
In Britain, recent PMI readings showed a post-election economy bounce in January as services companies enjoyed the strongest influx of new orders since mid-2018. December GDP data, due on Tuesday, is expected to come in at 0.8% in Q4 year-on-year after 1.1% in Q3. Though with potential supply chain disruptions in the wake of the coronavirus outbreak, there could be some new headaches waiting just around the corner.Tesla Inc CEO Elon Musk speaks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai, China Jan. 7.The end of the week will see a flurry of filings from investment firms as the deadline for 13F forms for the quarterly period ending Dec. 31 falls on Feb. 14.
While major global central banks including the Fed and the Reserve Bank of Australia have warned of a significant hit from the virus to economic output in recent days, they have stopped short of loosening monetary policy outright.
globeinvestor Let’s see, A major airline in HK announces 30% cuts and layoffs with many employees out on leave, but there stock was in the green? Could the government be injecting it artificially to make all seem good? Banks? Let it crash. Don’t delay the inevitable. CoronavirusOutbreak