European Stocks In Timid Rebound Bid After Vicious Sell-off

European equities closed with mixed results Tuesday after a hefty sell-off the previous day rooted in fears of a deadly second coronavirus wave, dealers said

London, (UrduPoint / Pakistan Point News - 22nd Sep, 2020 ) :European equities closed with mixed results Tuesday after a hefty sell-off the previous day rooted in fears of a deadly second coronavirus wave, dealers said.

London was up by 0.4 percent after tumbling more than 3.0 percent on Monday.

In New York, the Dow Jones index was almost unchanged as dealers headed for midday food trucks. It lost 1.8 percent on Monday.

"If the selling was to continue, it should have done so by now. The fact that this hasn't so far been the case, is potentially a positive sign," remarked ThinkMarkets analyst Fawad Razaqzada.

British Prime Minister Boris Johnson announced fresh steps to try to stop a coronavirus surge in England, meanwhile.

New rules to come into force on Thursday will see English pubs and other hospitality venues close at 2100 GMT.

Elsewhere, Asian stock markets extended the previous day's losses with sentiment jarred by new containment measures.

The raging pandemic shows few signs of slowing -- more than 31.2 million infections have been detected worldwide, with 964,000 deaths -- and nations are scrambling to contain new outbreaks.

Fading hopes for a new US stimulus added to the downbeat mood with Capitol Hill hostilities stoked by the death of US Supreme Court justice Ruth Bader Ginsburg.

A top White House adviser questioned whether more fiscal help was even needed.

After months of economic recovery helped by an improvement in infection and death rates, there is concern the coming northern hemisphere winter -- which experts say could help the disease spread -- will see a return to strict stay-at-home rules.

With new spikes around the world, authorities are being forced to act, while former Food and Drug Administration commissioner Scott Gottlieb warned the US might experience "at least one more cycle" of the virus in autumn and winter.

In corporate news, Whitbread, the British owner of no-frills hotel group Premier Inn, announced plans to axe up to 6,000 UK jobs, as the pandemic slams travel demand.

The group, which also owns restaurant brands including Beefeater and Brewers Fayre, said the cuts would number almost one fifth of its workforce.

The news sent Whitbread shares sliding by 2.7 percent to stand at 20.51 in London.

- Key figures around 1545 GMT - London - FTSE 100: UP 0.4 percent at 5,829.46 points (close) Frankfurt - DAX 30: UP 0.4 percent at 12,594.39 (close) Paris - CAC 40: DOWN 0.4 percent at 4,772.84 (close) EURO STOXX 50: UP 0.1 percent at 3,164.53 New York - Dow Jones: DOWN 0.1 percent at 27,130.98 Hong Kong - Hang Seng: DOWN 1.0 percent at 23,716.85 (close) Shanghai - Composite: DOWN 1.3 percent at 3,274.30 (close) Tokyo - Nikkei 225: Closed for a holiday Euro/dollar: DOWN at $1.1MT Pound/dollar: DOWN at $1.2724 from $1.2817 Euro/pound: UP at 91.98 pence from 91.84 pence Dollar/yen: UP at 105.04 Yen from 104.65 yenWest Texas Intermediate: UP 0.5 percent at $39.51 per barrelBrent North Sea crude: UP 0.8 percent at $41.75