European stocks are expected to rise at Monday's open, remaining just below record highs.
The People's Bank of China announced on Monday that it would provide medium-term funding of 200 billion yuan to commercial lenders and cut its main interest rate by 10 basis points to 3.15%.
The move is intended to shield the economy from the fallout of the coronavirus, which has now infected over 70,000 people and killed 1,770,Shares in mainland China led upward momentum for Asian markets overnight, with the Shenzhen composite and Shenzhen component each adding more than 2%. U.S. markets are closed Monday for the President's Day federal holiday, having closed little changed on Friday to finish out a positive week on Wall Street.said market conditions would be tough in 2020 despite reporting a rise in full-year net profit and sales on Monday morning.
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