European Markets set for Lower Open

The European financial markets are getting to ring Tuesday in on a lower note. Traders in the European Union are monitoring a rise in Covid-19 cases in Asia as a possible second wave is setting in.

The London FTSE is set to open sixteen points lower at 5,914 and the DAX, in Germany, is set to ring the bell down 64 points. The CAC 40, in France is ready to open 26 points lower at 4,462. The FTSE MIB is ready to open 146 points at the opening bell.

The global markets and market participants are watching concerning developments out of Asia with the Covid-19 virus. Some countries are reporting a rise in new cases.

The United Kingdom, in the meantime, is looking to slowly reopen their economy in phases as long as new cases continue to fall. With that said, European traders are looking at Brexit news as both the UK and the Eurozone have yet to hammer out a new free trade agreement (FFT).

There is the deadline as of 31 December or the UK crashes out of the Eurozone with no agreement in place.

European Traders monitor a Rise in Covid-19 Cases in Asia

There are a rise of new Covid-19 cases in Asia. Traders will be monitoring reports of a possible second wave of this global pandemic getting underway.

There are also new cases, or an uptick in new infections in Germany. This is coming after these nations eased lockdown restrictions.

If numbers continue to rise, traders will worry more. Sentiment is already weak as they are worried about the economic damage done by the first wave.

This contagion has already brought the global economy to a near standstill, restricted travel and choked off trade routes.

Both China and South Korea are reporting news cases of the coronavirus. These could result in further lockdowns in the region.