European stocks open higher after Asia bounce
Reuters
Published Jul 03, 2020 08:48
(Reuters) - European shares opened higher on Friday after upbeat China data fuelled a bounce in Asian markets, but another record surge in U.S. coronavirus cases checked overall investor optimism.
The pan-European STOXX 600 index (STOXX) rose 0.2% to hover near its strongest level in three weeks, but trading volumes were thinned by a U.S. holiday.
Technology stocks (SX8P) led the gains, rising 0.8%, while insurers (SXIP) and banks (SX7P) were the biggest decliners.
The benchmark index was headed for a modest weekly gain after a batch of strong data pointed to a recovery from the coronavirus crisis, but the United States set a new daily global record for COVID-19 cases on Thursday, driving many U.S. states to delay reopening plans.
Germany's Delivery Hero (DE:DHER) jumped 4.1% after the takeaway food company said its order growth nearly doubled in the second quarter.
UK retailer Next (L:NXT) fell 3.0% after Goldman Sachs (NYSE:GS) downgraded the stock to "sell", while AB Foods (L:ABF) slipped 1.3% after the U.S. bank downgraded its stock to "neutral".
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Written By: Reuters
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