FTSE 100 futures jumping between 2.8 percent and 3.4 percent despite the UK’s lockdown to fight the coronavirus outbreak being extended for at least another three weeks. While, European stock index futures surged more than 3 percent on Friday, with German DAX, French CAC, and FTSE 100 futures jumping between 2.8 percent and 3.4 percent, shrugging off data showing China suffered its worst economic contraction in almost three decades.
Data from China showed the world’s second-largest economy shrank for the first time since at least 1992 because of the coronavirus outbreak and tough containment measures.
Gross domestic product contracted 6.8 percent in the quarter year-on-year, slightly more than expected, and 9.8 percent from the previous quarter.
However, the Chinese data and other forecasts that said the world is in its worst recession in decades caused barely a ripple in Asian shares as investors focus instead on whether the pandemic is peaking and how soon governments will start to ease lockdowns which have crippled business and consumer activity.
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