New York (AFP) – European and Wall Street stocks advanced Thursday, partially recovering losses from the prior session’s pullback despite surging coronavirus cases in several US states and a warning from the WHO about an uptick in cases in parts of Europe.
Oil also recovered some of Wednesday’s five percent tumble.
There were hefty losses in New York and across Europe on Wednesday on heightened fears of a second wave of the deadly COVID-19 outbreak.
“Stock markets have edged up today after Wednesday’s falls, but there is still a lingering sense of caution over the signs of rising infection rates in the US,” said Chris Beauchamp, chief market analyst at online trading firm IG.
European markets held onto their gains until the close, while Wall Street engineered a strong finale to a roller-coaster session.
All three major US indices finished up by more than one percent, with large banks rallying