Coronavirus: market update

10:29 AM October 12, 2020
  • Pandemic situation is not improving at all with almost a million new cases being reported over the weekend. Several European countries registered new record numbers in terms of cases within the last few days. Many governments are planning to implement additional restrictions to curb soaring numbers of new coronavirus infections.
Yesterday 277 994 new coronavirus cases were reported. However the Monday figure typically tends to dip as there are fewer tests conducted on Sundays. Meanwhile 7-day average currently stands at 324 001. Source: Worldometers
  • UK reported 12,872 new cases on Sunday and has officially registered 42,825 deaths. Government will impose a three-tiered system of further restrictions which will include shutting bars, gyms, casinos and bookmakers in some areas placed into the "very high" alert level, probably across the north of England, British media reported.
  • France registered record number of 26,896 new cases on Saturday. French Prime Minister Jean Castex said on Monday he did not rule out local lockdowns in France due to a resurgence of new coronavirus infections.
  • Italy reported 5456 new infections yesterday. Country is preparing new nationwide restrictions in response to a spike in new coronavirus cases, Health Minister Roberto Speranza said on Sunday, including a proposed ban on private parties, involving both children and adults, while Rome would also target hours for bars and restaurants to reduce people's contagion risks.
  • Brazil registered 559 additional coronavirus deaths over the last 24 hours and 26,749 new cases, the Health Ministry said on Saturday. It has now registered 5,082,637 total confirmed cases and 150,198 total deaths.
  • India's coronavirus caseload reached 7.12 million on Monday, with 66,732 new infections reported in the last 24 hours, the health ministry said.
  • The Netherlands reported a new record number of 6499 new daily coronavirus cases on Saturday. The government has warned that new restrictions will have to be imposed across the country, if the number of infections and hospital admissions does not drop.
  • New cases of COVID-19 in the US hit a two-month high on Friday with over 58,000 infections of the new coronavirus reported and hospitalizations in the Midwest at record levels for a fifth day in a row, according to a Reuters analysis.
  • Russia's coronavirus cases rose by 12,846 on Saturday, a new daily record since the start of the pandemic, pushing the overall total number of infections to 1,285,084.

The pandemic continues to rage in parts of the U.S., hot spots in Europe and across big emerging economies including India and Brazil. Source: Financial Times


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