Global Stocks Rally As Bargain-hunting Sets In, But Politics And The Pandemic Loom Large

Visitors look at a stock quotation board at Tokyo Stock Exchange in Tokyo Reuters Banks and travel stocks boost European indices on Monday, but concern over the economy is driving the Stoxx 50 to its worst third-quarter performance in nine years. Rising cases of Covid-19 across Europe, plus the first of the presidential debates this week are likely to outweigh economic data, analysts say. Dollar eases from two-month highs, but looks set for more gains, while gold and silver remain under pressure. Visit Business Insider's homepage for more stories. Global equity markets bounced on Monday, as investors snapped up shares following last week's broad declines, while the dollar eased back from its recent highs, but with politics and coronavirus coming to the fore this week, analysts said this trend had the potential to rapidly unravel.In Europe, banks and airlines were among the top gainers, with HSBC leading the charge with an 8% gain on the day, after its largest shareholder, Chinese financial group Ping An Asset Management said it had expanded its stake in the group, according to the FT.

 

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