European stocks to surge
European markets seem to be recovering on Monday morning as economic recovery and
development on potential coronavirus drugs caught the attention of the investors which made
them less concerned about a further acceleration of the pandemic, as reported by CNBC.
Britain’s FTSE 100 is seen around jumping 86 points at 6,243, whereas Germany’s DAX is
expected to ascend by around 252 points to 12,780 and France’s CAC 40 is set to add around 98
points to 5,105, according to IG data.
Stocks in Europe are on the path to follow the trend set in Asia overnight as mainland Chinese
stocks rallied on bullish sentiment, with the Shanghai composite soaring more than 4% to lead
The European Commission stated on Friday that conditional approval had been granted for
Gilead’s new antiviral drug named remdesivir to be used in the EU, which makes it the first
authorized treatment for the virus in the region. Apart from that, the Sunday Times newspaper
reported that the U.K. is finalizing a £500 million ($624 million) supply deal with Sanofi and
GlaxoSmithKline for 60 million doses of a potential vaccine, according to CNBC.