(RTTNews) – European stocks saw a choppy session on Wednesday as investors appeared somewhat clueless about a potential new coronavirus relief plan as they digested a couple of treats from U.S. President Donald Trump.

Markets were also reacting to updates about coronavirus spread. In France, new coronavirus cases continued to see a daily rise of over 10,000. The French government has placed Paris on maximum Covid-19 alert.

Trump had tweeted Tuesday afternoon that he has instructed his administration’s negotiators to stop stimulus discussions with Democrats until after the presidential election, triggering heavy selling in the U.S. market.

Later on Tuesday, Trump indicated he would support individual stimulus measures after calling off negotiations over a broader relief package.

“The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!” Trump tweeted.

He later added, “If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?”

The pan European Stoxx 600 ended down 0.12%. The U.K.’s FTSE 100 edged down 0.06% and France’s CAC 40 declined 0.27% and Germany’s DAX moved up 0.17%. Switzerland’s SMI ended lower by 0.44%.

Among other markets in Europe, Denmark, Iceland and Ireland closed higher. Belgium, Finland, Greece, Norway, Russia and Spain declined, while Austria, Czech Republic, Netherlands, Poland, Portugal, Sweden and Turkey ended flat.

In the UK market, Rolls-Royce gained more than 5%, rebounding strongly after losses in the previous session. CRH, Glencore, Kingfisher, Fresnillo, Ocado Group, Rio Tinto, Taylor Wimpey, Antofagasta and Melrose gained 2 to 3%.


By David Randall

NEW YORK (Reuters) – Global equity markets rose and safe-haven assets including the dollar were mixed on Wednesday as investors weighed a rising number of COVID-19 cases and a chaotic U.S. presidential debate against better-than-expected U.S. private jobs data on the last day of a turbulent quarter.

Republican President Donald Trump and Democratic rival Joe Biden battled over Trump’s record on the coronavirus pandemic, healthcare and the economy in a bad-tempered first debate on Tuesday night marked by personal insults and Trump’s repeated interruptions of Biden.

“The only point worth mentioning is that the debate may have increased expectations for a contested election result,” said UBS chief economist Paul Donovan. “Given the importance of international investors to U.S. markets, this may add volatility around the election.”

MSCI’s gauge of stocks across the globe gained 0.43% following modest gains in Europe and mixed trading in Asia.

On Wall Street, the Dow Jones Industrial Average rose 329.04 points, or 1.2%, to 27,781.7, the S&P 500 gained 27.53 points, or 0.83%, to 3,363 and the Nasdaq Composite added 82.26 points, or 0.74%, to 11,167.51.

Better-than-expected gains in ADP’s survey of private payrolls helped push U.S. equities higher.

“The election is not the primary driver of markets right now – the level of economic reopening is,” said David Bahnsen, chief investment officer at the Bahnsen Group.

MSCI’s broadest index of world shares, which tracks nearly 50 countries, lost 3.4 in September, its first monthly loss since equities plummeted in March as much of the global economy was frozen in response to the pandemic. The index closed the quarter with a 7.7% gain.

Oil dropped approximately 10% for the month, while gold’s 4.1% drop was its worst month since late 2016.

As the Nov. 3 U.S. election draws closer, investors are increasingly