The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Governments across Europe are implementing renewed restrictions as a resurgence of COVID-19 sweeps through the continent
  • Over last week, more than 700,000 new cases of the virus have been reported in the region, taking confirmed cases to around seven million and daily deaths to more than 1000
  • The majority of the new cases are arising in Spain, the UK, and France, which have collectively overtaken the U.S. in daily cases numbers
  • Despite the resurgence, leaders across Europe are opting for locally-focused action surrounding case hotspots, alongside less stringent national measures
  • By attempting a more localised response, European leaders are hoping to avoid the economic and societal impacts of nation-wide lockdowns

Governments across Europe are implementing renewed restrictions as a resurgence of COVID-19 sweeps through the continent.

Over last week, more than 700,000 new cases of the virus have been reported in Europe, taking confirmed cases in the region to around seven million and daily deaths to more than 1000.

Based on the current modelling, the World Health Organisation (WHO) predicts Europe’s daily mortality rate could reach four or five times its previous peak in April.

The majority of the new cases are arising in Spain, the U.K., and France, which have collectively overtaken the U.S. in daily cases numbers.

Despite the resurgence leaders across Europe are opting for localised action surrounding case hotspots, alongside less stringent national measures, in an attempt to avoid the economic and societal impacts of country-wide lockdowns.

Toward that end, France has redeclared a state of emergency and is implementing a 9:00 pm to 6:00 am curfew in many of its major cities, after reaching a record 30,621 in daily new cases on Wednesday,

Similarly, Spain has also declared a state of emergency and has reimplemented restrictions in Madrid, which currently has an infection rate five times higher than the European average.  

Meanwhile, the U.K. has also tightened its current protocols, prohibiting all individuals from socialising with other households.

In a recent statement on the region’s escalating cases, Dr Hans Henri Kluge, WHO Regional Director for Europe, commented on the need for an immediate response.

“Measures are tightening up in many countries in Europe, and this is good because they are absolutely necessary,” he said.

Despite the need for heightened measures, the WHO Director noted that all government action much be balanced against its economic and societal fallout.

“These measures are meant to keep us all ahead of the curve and to flatten its course. They are there to save lives from COVID-19 without risking lives due to other diseases and because of economic despair,” he added.

More From The Market Online
ASX concept

ASX 200 reacts to an RBA 25bps rate hike by… closing somewhat firmly in the green?

Colour me surprised – the ASX200 successfully priced something in for once, with today’s RBA rate hike not scaring the market down into
India Russia flag

Not just AUKUS indexes: USA’s war on Iran visible on India’s NIFTY; Russia’s MOEX

While the Australian market is busy watching Wall Street, gold, and oil prices – and the prices of relevant stocks exposed to those

Oil prices see money markets bet on two more RBA hikes for 2026; NAB see CPI @ 5%

Despite earlier this week claiming that Australian CPI could hit 5% by the middle of the year, National Australia Bank’s (ASX:NAB) chief
Social media concept

The US Energy Sec’s overnight tweet bungle underlines social media’s increasing influence on markets

In a world where investing is becoming more and more intertwined with social media narratives (read: emotion), thus becoming more volatile – something