European Markets Slip Back, While Halfords gets a Puncture

Markets elsewhere in Asia were slightly less exuberant, with the Nikkei225 slipping back from three-week highs.

To that end markets here in Europe have opened lower with profit-taking kicking in ahead of the peaks that we saw in June. While optimism of a v-shaped recovery still remains quite high it is being tempered by concerns about rising coronavirus cases globally, translating into a similar percentage rise in mortality rates. This doesn’t appear to be happening at the moment, however with the markets back close to their June peaks it would appear that the overriding sentiment is one of ahead of those June peaks.

These types of moves are becoming emblematic of how markets have been moving over the last month. We’ve seen sentiment ebb and flow from being quite bearish, to fairly bullish without ever breaking out of the range we’ve been in since we posted those June peaks.


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WHO issues ‘worst is yet to come’ warning; European Union to extend American travel ban

As coronavirus cases climbed in the U.S. and across the globe, the World Health Organization director general warned “the worst is yet to come” and European Union leaders were ready to extend the ban on American travelers for at least two more weeks.

Adjustments were being made to help slow spreading of the disease. Jacksonville, Florida, which is scheduled to host the GOP convention, is mandating masks, though it’s not clear for how long. Broadway stages will remain dark through 2020.

Also, a drug company’s steep price for remdesivir, a drug that has proved to shorten recovery times for severe COVID-19 patients by about 31%, is drawing criticism.

Some good news? The nation’s leading infectious diseases expert remains “cautiously optimistic” that a vaccine could be widely available by year’s end.

Here are the most significant developments of the day:

  • Worldwide coronavirus cases surpassed 10 million, while more than 504,000 across

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Thousands told European trips are cancelled despite air bridges deal

Holidaymakers hoping to make it to Greece this summer faced with wave of flight cancellations - Getty
Holidaymakers hoping to make it to Greece this summer faced with wave of flight cancellations – Getty

UK holidaymakers who have been keeping tabs on imminent air bridge announcements – and had hoped this meant their trips to European destinations including Spain, Italy and Greece would be able to go ahead this summer – could be in for disappointment.

Tui have cancelled 95 per cent of its holidays in July, and easyJet are only running about half of their flights – although in some cases cancellation emails are only going out now. This means that even if air bridges were to be confirmed by the Government at the weekend as proposed, many UK holidaymakers will still not be able to travel on their existing bookings. 

Several easyJet and Tui customers posted news of their cancelled flights for the coming weeks on Twitter yesterday, calling into question whether the proposed air

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