European Markets Struggling Tuesday, Asian Posting Strong Gains

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2020-08-04

European markets are mostly lower Tuesday in a reversal of the strong gains posted hours earlier in Asia.

London’s FTSE index is 0.1% lower at the midday point. The CAC-40 index in Paris is up 0.1%, and Frankfurt’s DAX index is down 0.4%.

Asian markets posted across-the-board gains in response to new data from the United States and other nations that manufacturing activity has begun to rebound from the coronavirus pandemic.

Tokyo’s benchmark Nikkei index ended its trading session 1.7% higher. Sydney’s S&P/ASX index earned 1.8%. The KOSPI index in Seoul rose 1.2%, and Taipei’s TSEC index gained 1.5%.

Both Hong Kong’s Hang Seng and Mumbai’s Sensex index finished 2% higher, while Shanghai’s Composite index gained 0.1%.

In commodities trading, gold is selling at $1,992.50, an increase of 0.3%. U.S. crude is selling at $40.38 per barrel, down 1.5%, while Brent crude is selling at $43.47 per barrel, also 1.5% lower.

All three major U.S. indices are trending negatively in futures trading ahead of the opening bell on Wall Street.

Source: Voice of America

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