A record fall should be followed by a record rebound. Adopting the same stance, the European market has started its recovery path. Stock market statistics show that the European market is about to extend its gains.
The Stoxx Europe 600, the main index of European stocks, climbed by an impressive 2.9 percent in August, marking the highest level since 2009. This growth was driven by a sufficient number of fundamental factors and positive news on the development of a vaccine against the coronavirus disease. Some of the world's largest companies announced the beginning of their final-stage testing on COVID-19 vaccine. The market was also supported by the upbeat data on a recovery in China's economic activity. The only thing constraining market growth is slumping demand in some EU countries, including Italy and Germany which recorded a decline in consumer prices in August.
In general, experts do not report on a complete economic revival of Europe and its local markets but still note a positive trend. EU members, including the most economically advanced states, are experiencing just a limited decline in unemployment, while the situation in some sectors remains uncertain.
