European stocks seen lower amid COVID-19 concerns
European stock markets traded lower on Tuesday over uncertainties of the COVID-19 crisis, despite positive signs of recovery in German manufacturing sector.
Germany’s DAX futures fell by 0.1% at 3:45 AM ET (0745 GMT). France’s CAC index slipped by 0.1%, while FTSE futures in the U.K. lost 0.5%.
Puma dropped 2.8% after French luxury group Kering completed the sale of a 5.9% stake in the German sports gear maker for approximately €656 million ($772 million).
Premier Oil’s shares soared by 12% after announcing plans to merge with Chrysaor, bringing together two of the largest U.K. North Sea oil and gas producers.
Meanwhile, German industrial orders saw a rise for a fourth month, climbing 4.5% in August, generating hopes that Europe’s largest economy is gradually recovering from the impacts of the virus.
However, the resurgence of COVID-19 in some parts of the world has led to over 35 million affected, adding to a death toll of more than a million.