European shares flat ahead of EU summit, Ericsson soars after earnings

📆 7/17/2020 6:05 AM
📰 Reuters

⏱ Reading Time:
32 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

European shares were little changed on Friday, with stocks trading in a narrow range as focus turned to Brussels where European Union leaders are expected to hammer out details of a 750-billion-euro recovery fund.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 16, 2020. REUTERS/Staff

The United States shattered its daily record for coronavirus infections on Thursday, raising fears of slower recovery in the world’s largest economy.Euro zone stocks .STOXXE slipped 0.2% after rallying earlier this week to highest since early March, mostly on hopes that an EU-wide fund to support the pandemic-stuck economies could lift the bloc out of a recession.

“The hope is tempered by the fact that the obstacles to an agreement remain high with 4-5 countries insistent that any grants be allocated with conditionality on the part of the countries receiving them,” CMC Markets’ Michael Hewson said in a note.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks seen slightly higher as EU leaders meet for stimulus talksEuropean stocks are set for a cautiously higher open Friday as European Union leaders prepare to discuss a deal on the bloc's key coronavirus recovery package, while U.S. coronavirus cases continue to soar.
Source: CNBC - 🏆 12. / 72 Read more »