Global shares mixed as U.S. virus aid hopes fade

Tokyo: Global shares were mixed Tuesday, after Wall Street’s overnight decline as hopes faded Washington will come through with badly needed aid for the U.S. economy before the U.S. presidential election.
France’s CAC 40 gained 02 percent in early trading to 4,954.42, while Germany’s DAX slipped 0.3 percent to 12,816.44. Britain’s FTSE 100 edged up 0.4 percent to 5,910.60. U.S. shares were set for gains, with Dow futures up 0.5 percent at 28,238. S&P 500 futures rose 0.6 per cent to 3,444.12.
Rising coronavirus caseloads are dragging on sentiment as investors consider the likelihood of further business shutdowns and other restrictions on business activity.
The situation is getting worse in Europe as it faces the second Covid-19 wave, and local governments are trying their best to bring the situation under control,” said Naeem Aslam of Avatrade.com.
The current restrictive measures, which include strict lockdowns in some places, will suppress economic recovery. This particular concern was also voiced by the President of the European Central Bank, Christine Lagarde,” Aslam said in a report.
The biggest focus for markets has been the fate of U.S. economic stimulus given the heavy blow from pandemic social distancing restrictions and business closures.