Stock Markets Mostly Rise, As Airlines Act Over Virus

European stock markets recovered further Wednesday, as positive Apple earnings and US data offset concerns over the spreading coronavirus that has caused airlines to suspended flights to and from China

London, (UrduPoint / Pakistan Point News - 29th Jan, 2020 ) :European stock markets recovered further Wednesday, as positive Apple earnings and US data offset concerns over the spreading coronavirus that has caused airlines to suspended flights to and from China.

Hong Kong's main stocks index slumped 2.8 percent by the close as traders returning from the Lunar New Year break played catch-up with the global selloff triggered by the epidemic.

The Dollar largely firmed, while oil prices jumped nearly one percent.

"Risk sentiment is being given some reprieve from concerns over the novel coronavirus outbreak," said Han Tan, market analyst at FXTM.

"The positive surprise in Apple's latest earnings overnight and Tuesday's better-than-expected US consumer confidence reading... served as distractions from the coronavirus gloom that has beset investors."Apple on Tuesday posted record results for the final three months of last year, delivered by gains in iPhone sales.