Following a late rebound on Wall Street and a rise in Asian stocks overnight, European bourses are heading towards a stronger start on the open. Investors are taking stock of the gradual reopening of economies whilst oil also picks up on greater fuel demands.
Optimism surrounding the gradual easing of lockdown restrictions and the impending economic recovery is outweighing rising US – Chinese tensions, which had dragged on sentiment in trading on Monday.
Italy and Spain are gradually reopening their economies, Germany is moving towards the second phase with large shops set to reopen, joining smaller shops which have already started trading. In the UK, blueprints of how Britain will ease out of lockdown have also been leaked, although more details are expected from Boris Johnson later in the week.
Oil back over $20pb
The rebound in has been largely driven by an increase in demand as governments ease lockdown restrictions. Data from the Cushing storage (largest oil storage tank…