European Stocks In Rebound Bid After Vicious Sell-off

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

London was up by 0.5 percent in afternoon trading after tumbling more than 3.0 percent on Monday.

In New York, the Dow Jones index was 0.3 percent higher as dealers swung into action. It lost 1.8 percent on Monday.

"The markets have stabilised somewhat, but it remains to be seen whether this is just a pause before more selling resumes," said ThinkMarkets analyst Fawad Razaqzada.

British Prime Minister Boris Johnson was Tuesday to announce fresh steps to try to stop a coronavirus surge in England.

New rules to come into force on Thursday will see English pubs, bars and other hospitality venues required to 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 no 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 2.8 percent to stand at �20.51 in London.

- Key figures around 1330 GMT - London - FTSE 100: UP 0.5 percent at 5,835.92 points Frankfurt - DAX 30: UP 0.9 percent at 12,655.71 Paris - CAC 40: UP 0.3 percent at 4,808.25 EURO STOXX 50: UP 0.7 percent at 3,183.06 New York - Dow Jones: UP 0.2 percent at 27,213.40 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 $1.1757 from $1.1771 at 2100 GMT Pound/dollar: DOWN at $1.2798 from $1.2817 Euro/pound: UP at 91.87 pence from 91.84 pence Dollar/yen: DOWN at 104.57 Yen from 104.65 yenWest Texas Intermediate: UP 0.5 percent at $39.80 per barrelBrent North Sea crude: UP 1.4 percent at $42.00