Key Points: Thursday saw the pan-European Stoxx 600 plunge 4% after the Fed cautioned of a 6.5% fall in U.S. GDP (gross domestic product) in 2020, denting hopes of an immediate "V-shaped" economic recovery.Several U.S. states reported a spike in coronavirus cases after reopening their economies, spooking global markets as fears of a second wave of infections resurfaced.
European markets made a choppy start to Friday's trade as they looked to rebound from the previous session's significant sell-off.
The pan-European Stoxx 600 bounced either side of the flatline in early trade and was up 0.5% around one hour and 20 minutes into the session. Autos jumped 2.1% to lead gains while health care stocks slid 0.6% lower.
Thursday saw the European blue chip index plunge 4% after an economic reality check from the U.S. Federal Reserve and concern over a second wave of coronavirus infections rocked sentiment.
The Fed cautioned of a 6.5% fall in U.S. GDP (gross domestic product) in 2020, denting hopes of an immediate "V-shaped" economic recovery in the aftermath of the coronavirus crisis, while several U.S. states reported a spike in coronavirus cases after reopening their economies.
Stocks in Asia Pacific continued to tumble on Friday, continuing a rough end to the week for global markets. South Korea's Kospi led the region's losses with a 2.37% fall during afternoon trade.
This came on the back of a dire handover from Wall Street, where U.S. stocks suffered their worst session since March on Thursday with the Dow plunging more than 1,800 points. Dow futures were up more than 300 points on Friday morning, pointing to a slight recouping of losses at the open.
The International Monetary Fund (IMF) said Thursday that governments around the world have deployed $10 trillion in stimulus packages aimed at mitigating the impact of the coronavirus pandemic, which has now infected more than 7.5 million people worldwide. However, IMF Managing Director Kristalina Georgieva suggested that significantly more action will be needed to shore up the global economy.
In Europe, the Financial Times reported Thursday that the U.K. has abandoned plans to introduce border checks with the European Union on Jan. 1, after pressure from businesses to minimize chaos amid the coronavirus pandemic.
Britain said Thursday that it had agreed on an intensified timetable in July for negotiations over a new free trade agreement with the EU, as both sides look to thrash out an accord before the Brexit transition period concludes at the end of the year.
The U.K. posted the biggest monthly fall in GDP (gross domestic product) on record in April, according to data released Friday by the Office for National Statistics.
GDP fell by 20.4% compared to the previous month, a sharper contraction than the 18.4% expected by analysts polled by Reuters.
Biggest movers
Games Workshop shares jumped 9.4% in early trade after the British war game manufacturer forecast sales of £270 million ($340.24 million) for the year ended May 31,
Exhibition organizer Informa climbed 8% after projecting that 2020 revenue would fall by a third, but announcing that it had found more than £400 million in cost savings.
At the bottom of the European benchmark, shares of German meal kit delivery company Hellofresh fell by 3.8%.
原文地址：https://www.cnbc.com/2020/06/12/europe-markets-recovery-and-second-coronavirus-wave-fears-persist.html