European markets are set for a bounce on Monday morning as investors focus on the prospect of economic recovery and progress on potential coronavirus drugs.
that more than 200,000 coronavirus cases were confirmed worldwide over a 24-hour period – a new record – with the Americas accounting for around 130,000 new cases. In the U.S., Florida and Texas reported record increases in new daily cases on Saturday, while cases rose in 39 states.
In corporate news, Commerzbank CEO Martin Zielke and chairman Stefan Schmittmann were ousted on Friday following a shareholder revolt led in part by U.S. private equity firm Cerberus Capital Management, with the search for new leadership taking center stage this week. On the data front, a host of construction PMI readings and retail sales figures are expected out of the euro zone on Monday.
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