Key Points: Market optimists pointed to improving economic signals for the most recent rallies, including the U.S. government's far-better-than-expected jobs report last week.The World Bank said Monday that it expects the global economy to shrink by 5.2%, representing the deepest recession since the World War II.
European stocks edged lower Tuesday as investors weigh up the prospects of economic recovery after the coronavirus pandemic.
The pan-European Stoxx 600 slid 0.3% in early trade. Banks and autos fell by more than 3%, while health care stocks bucked the trend to climb 1.6%.
European markets are following their Asian counterparts in mixed trade Tuesday, despite an overnight rally stateside that saw the S&P 500 erasing its losses and entering positive territory for the year.
Market optimists pointed to improving economic signals for the most recent rallies, including the U.S. government's far-better-than-expected jobs report last week. The Labor Department said Friday the economy added 2.5 million jobs in May, a record. Economists polled by Dow Jones had forecast a drop of more than 8 million.
Still, despite the positive momentum seen in markets that are hoping for a faster-than-expected economic recovery from the coronavirus pandemic, the World Bank said Monday that it expects the global economy to shrink by 5.2%, representing the deepest recession since the World War II.
Attention on Tuesday will be on the U.S. Federal Reserve which begins a two-day policy meeting. Investors will be waiting for the Fed's statement on interest rates Wednesday, followed by a press conference led by Chairman Jerome Powell. The Fed is expected to reiterate its commitment to unlimited asset purchases.
In terms of individual share price action, French investment bank Natixis slid 6.3% in early trade to the bottom of the Stoxx 600, while Italian-American machinery maker CNH Industrial climbed 5.5%.
原文地址：https://www.cnbc.com/2020/06/09/european-markets-head-for-lackluster-open-despite-hopes-of-economic-recovery.html