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Stock prices rise on new signs of economic recovery BNN

Global stock prices rose on Monday, July 6, as investors turned more attention to new signs of economic recovery than to the rise in COVID-19 infections worldwide.

The easing of restrictions imposed by COVID-19 gives hope that the global economy will recover quickly from this year’s recession.

Last week, investors’ confidence was boosted by unexpectedly good US employment and industry data, as well as hopes for the development of a new coronavirus vaccine.

On Monday, the rise in stock prices on Wall Street was fueled by both the data and the belief that US cities and states will not renew strict quarantine measures, although the number of COVID-19 cases continues to rise.

“The market shows more joy than expected. I didn’t think we would be immune to these bad numbers of viruses, “said Karl Hailing, an analyst at LBBW.

US stock index Dow Jones Industrial Average on Monday rose 1.8% to 26,287.03 points, the index Standard & Poor’s 500 rose 1.6% to 3,179.72 points, while the index Nasdaq Composite increased by 2.2% to 10,433.65 points.

Also read: Banking analysts: Industrial output in Latvia could decrease by 3-5% this year

The London Stock Exchange index FTSE 100 rose 2.1% to 6,285.94 points on Monday, the Frankfurt stock exchange index DAX 30 rose 1.6% to 12,733.45 points, and the Paris stock exchange index CAC 40 rose 1.5% to 5081.51 points.

In the e-commerce of the New York Stock Exchange, the price of WTI crude oil rose by less than 0.1% on July 6 to USD 40.65 per barrel. Brent The price of crude oil on the London Stock Exchange rose by 0.6% to $ 43.07 per barrel.

The euro rose from 1.1242 to 1.1308 dollars per euro on Monday, the British pound rose from 1.2469 to 1.2489 dollars per pound against the US dollar, while the US dollar depreciated against the Japanese yen from 107.52 to 107.39 yen per dollar. The euro appreciated against the pound sterling from 90.16 to 90.53 pence per euro.

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