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European Shares Seen Opening On Flat Note

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(RTTNews) – European stocks are seen opening on a flat note Wednesday as investors weigh coronavirus worries against hopes of fresh U.S. stimulus.

Covid infection rates are on the rise again in parts of Asia, with Tokyo and other parts of Japan currently under a state of emergency to quash a surge in infections.

China’s northeastern provinces have been the hardest-hit due to the virus as officials brace for the upcoming Chinese Lunar New Year holiday season.

Asian markets are trading mixed ahead of the U.S. presidential inauguration ceremony, taking place under the shadow of the unprecedented health crisis and protests in the United States.

Gold prices inched up on a weaker dollar while oil extended gains on stimulus hopes.

U.S. stocks rose overnight as traders returned to their desks following a long holiday weekend.

The Dow Jones Industrial Average inched up 0.4 percent and the S&P 500 added 0.8 percent as Janet Yellen made the case for large-scale fiscal stimulus and some of the country’s biggest banks beat expectations for fourth-quarter earnings.

The tech-heavy Nasdaq Composite jumped 1.5 percent to end the session just shy of the record closing high set earlier this month.

European markets ended on a subdued note Tuesday as investors weighed the economic impact of surging coronavirus cases and tighter lockdown restrictions in several places across the continent.

The pan European Stoxx 600 gave up 0.2 percent. The German DAX slid 0.2 percent, France’s CAC 40 index eased 0.3 percent and the U.K.’s FTSE 100 edged down 0.1 percent.