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Last updated: 06/29/2020 07:06:48

07:06 AM EDT, 06/29/2020 (MT Newswires) -- As of near 7am ET, European stock markets had moved cautiously higher. DAX and FTSE were posting gains of 0.20% and 0.19% respectively, the CAC 40 was underperforming and down -0.08% and U.S. futures were trading mixed, with the NASDAQ underperforming and down -0.25% after a largely weaker session in Asia overnight, where markets caught up with the slide on Wall Street on Friday. The ongoing spread of COVID-19 and fears of further disruptions continued to weigh on sentiment. The U.S. reported a new record number of cases. Numbers ere also rising in Australia and New Zealand and a new cluster of cases near Beijing prompted fresh lockdowns. There was also positive news, however, as a potential COVID-19 vaccine received special military drug approval in China after passing clinical trials. Meanwhile data showed that China's industrial companies saw the first monthly rise in profits since November, but that wasn't enough to cheer up even mainland China bourses which returned from holiday today to fresh warnings that the recovery will likely be a slow one. South Korea shares retreated after the finance minister ruled out another budget for this year. That left the Nikkei with a loss of -2.3%, the Hang Seng and CSI 300 dropped -1.0% and -0.7% respectively and the ASX was down -1.5% at the close. The front end WTI future meanwhile lifted to US$38.63 per barrel.

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