European shares touched record highs on Friday as investors digested whether Chi...
) dragging London shares down as the drugmaker said it would take a hit from the coronavirus outbreak.
China’s National Health Commission said it had recorded 121 new deaths on the mainland on Feb. 13, taking the accumulated total infected to 63,851 people. Yet there is by no means a consensus that such a sunny take is warranted. Some investors said they were dialing down bets on equities amid the uncertainty over what economic toll the coronavirus would take.
MSCI world equity index .MIWD00000PUS, which tracks shares in 49 countries, was flat. Wall Street futures EScv1 were pointing to a slightly higher open. “China is already easing its monetary policy and providing more liquidity while more stimulus is likely. Factories are starting to reopen albeit with some delays,” said Yukino Yamada, senior strategist at Daiwa Securities.slumped to another near-three-year low, with worries lingering about slowing growth in the euro zone and rising political uncertainties in Germany.
“Investors will surely avoid Asia for the time being and will shift funds to the U.S., geographically the most separated from the region,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
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