Saturday 4 July 2020

Markets mixed, global COVID-19 tally passes 11 million

Markets were mixed on Friday.

Asian markets rose. The Nikkei 225 rose 0.7 percent and the Shanghai Composite jumped 2.0 percent.

However, the STOXX Europe 600 fell 0.8 percent.

US markets were closed for a holiday.

Asian markets were boosted by a report showing that the China Caixin/Markit services PMI rose from 55.0 in May to 58.4 in June, the highest reading since April 2010.

However, the continuing rise in COVID-19 cases kept gains in check, with European stocks in particular losing ground as the session wore on.

Reuters reported that global COVID-19 cases exceeded 11 million on Friday, with 520,000 deaths linked to the disease.

The daily US tally of cases stood at 53,483 late on Friday, below the previous day’s record 55,405, but Alabama and six other states reported record increases in coronavirus cases.

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