European stocks up during short holiday trading session

The German DAX
DAX
+ 1.75%
It jumped 1.4%, shaking data that confirmed a slower growth of 2.2% in the first quarter, marking the largest decline since the financial crisis and pushing the economy into recession.

Investors Watch Rising US-China Tensions and Growing Turmoil in Hong Kong, Still “Slightly Optimistic About Business Reopening Worldwide, Expect More Monetary and Fiscal Stimulus” . said Ipek Ozkardeskaya, senior analyst at Swissquote. Bank, in a note to customers.

Hong Kong police on Sunday fired water cannons and tear gas at protesters in a popular shopping district as thousands of people demonstrated on the street against China’s plan to pass national security legislation in the city. Signs of new tensions in the region are reinforcing the friction that has developed between the United States. United States And China on the coronavirus pandemic.

House of Representatives national security adviser Robert O’Brien said on Sunday that the United States would likely punish China if the legislation was passed. For its part, China warned of tense relations between the two countries.

“We must be alert to the efforts of certain political forces in the United States to divert China-United States relations and try to push the two countries towards a so-called” new cold war “,” said the minister. Chinese Foreign Minister Wang Yi in comments on Sunday. , reported in the South China Morning Post and elsewhere.

Investors in Europe took advantage of the news that major European countries would reopen slowly due to the closings. Churches in France reopened for Sunday Mass for the first time in two months, while Spain said it would reopen for international tourists from July and that Germany and Italy were also slowly reopening their economy.

Prime Minister Boris Johnson in the UK has been criticized for supporting chief aide Dominic Cummings, who drove 250 miles from London to Durham to his parents’ home when he was infected with the coronavirus.

Drug stocks were on the move Monday, with heavy actions from Bayer AG
BAYN
+ 6.79%
earn 4.5% later Bloomberg reported The company has settled between 50,000 and 85,000 lawsuits alleging that its herbicide Roundup was carcinogenic. These sources cited stated that none of the agreements had yet been signed.