Stock markets recover some ground after heavy losses


New York (AFP) – US and European stocks were higher Friday, recovering from a rout the previous day caused by rising coronavirus cases in the United States and data denting hopes for a strong recovery from the pandemic’s devastation. The scale of the damage was highlighted by news that the British economy shrank 20.4 percent month-on-month in April, a sharp reality check after markets rallied significantly from their March lows. Analysts said the figures were awful but unsurprising and will hopefully represent the bottom as far as economic activity.On that score, US consumer confidence figures…

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