Investing.com - European stock markets are seen opening lower Wednesday, amid worries that the recent surge in coronavirus cases throughout the region will halt the nascent economic recovery even given the Covid-19 vaccine breakthroughs.
At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.2% lower, CAC 40 futures in France dropped 0.4% and the FTSE 100 futures contract in the U.K. fell 0.5%.
Sentiment has weakened as the week has progressed as investors returned to the basic concept that large sections of many economies throughout Europe remain closed as governments react to a second wave of the Covid-19 pandemic.
On Tuesday, Scotland’s First Minister Nicola Sturgeon announced that large areas of the country would shut all non-essential shops from Friday to combat a rise in cases, mostly in the west of the country.
Equity markets had been given a boost Monday when Moderna said its experimental Covid-19 vaccine was 94.5% effective in preventing infection, adding to Pfizer’s promising trial data last week.