European share seen in recovery bets

European stocks are expected to rise slightly on Wednesday as investors are betting on a quick recovery from. Coronavirus Pandemic.

Stocks and commodities are underpinned by hopes for recovery as the Covid-19 vaccination program is accelerating around the world.

The market will also track Washington’s political drama after US Vice President Mike Pence has said he will not dismiss President Donald Trump.

Separately, Congressman Nancy Pelosi said the Democratic Chamber of Commerce would vote to impeach Trump later today.

Asian market Transactions are mixed as the number of cases of coronavirus worldwide exceeds 91 million.

A Chinese state with a population of over 37 million declared a state of emergency today as the number of cases of the virus surged days before the World Health Organization team arrived in the country to study the origin of the virus.

After industry data showed that US crude oil inventories fell more than expected, oil expanded profits and set a new 10-month high.

Gold has also risen due to the recent rise in the US dollar and the suspension of Treasury yields.

In the economic announcement, Eurostat will announce industrial production in the euro area in November, later in the session. Production is expected to grow 0.2% a month, following a 2.1% increase in October.

US stocks rose slightly overnight as the earnings season approached and the Democratic Party of the House moved to impeach President Trump.

The Dow Jones Industrial Average rose 0.2% and the tech-heavy Nasdaq Composite index rose 0.3%, but S & P remained largely unchanged with a positive bias.

The European market on Tuesday fell almost amid the turmoil in US politics, rising US-China relations, and an increase in coronavirus cases in several countries.

The Pan-European STOXX 600 ended flat with a positive bias. Germany’s DAX fell slightly, France’s CAC 40 index fell 0.2%, and the UK’s FTSE 100 fell 0.7%.

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European share seen in recovery bets

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