LONDON (Reuters) – World stock markets looked to be getting back to full strength on Wednesday, as updates from China about the spread of a new flu-like coronavirus raised hopes the outbreak would be contained.
Worries about contagion, particularly as millions travel for upcoming Lunar New Year festivities, have knocked the world’s top equity markets off record peaks.
The outbreak has revived memories of the Severe Acute Respiratory Syndrome (SARS) epidemic in 2002-03, a coronavirus outbreak that killed nearly 800 people.
This time, China’s response and candour — in contrast to the SARS epidemic — have helped reassure investors concerned about the possible global fallout.
China’s National Health Commission said on Wednesday there were 440 cases of the new virus, with nine deaths so far. Measures are now in place to minimize public gatherings in the most-affected regions.
Stocks in London, Frankfurt and Paris scored early gains of 0.1% to 0.2%. S&P 500 futures…
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