Global stocks rise as US earnings season looms Jul 14, 2020 0 814 12345 AFPLondonWorld stock markets advanced on Monday, helped by investor confidence in upcoming US quarterly earnings and the business outlook, and by hopes for progress towards a coronavirus vaccine, dealers said.A spike in COVID-19 infections across the globe kept a lid on gains, they said.“The mood remains upbeat as the new week kicks off and US earning season moves into focus,” said City Index analyst Fiona Cincotta.Results from JP Morgan, Citigroup, Wells Fargo, Goldman Sachs, Netflix and Johnson & Johnson would help give further insights into corporate America’s performance following the full coronovirus lockdown, she said.Weak earnings for the quarter to June “should be priced in” already, said Fawad Razaqzada at ThinkMarkets.“What investors will be looking for more than anything is forward guidance,” he said.On Wall Street, the Dow Jones index stood more than 400 points higher in the late New York morning. Key European stock markets were well over one percent up by the close. Earlier, Asia had led the way with solid gains across the region.Oil prices fell on festering fears over demand-destroying coronavirus, and before this week’s expanded OPEC+ technical gathering of key crude producers who are expected to curb production cuts.Investors welcomed comments on Friday from the head of German biotech firm BioNTech who said a vaccine candidate would be ready for regulatory review by the end of the year, while Gilead Sciences said its drug remdesivir had been relatively effective in clinical trials.“There was a sense of optimism circulating on the back of hopes for a treatment for coronavirus,” said CMC Markets analyst David Madden.Trillions of dollars in government support is keeping global equities well supported, but confidence is being strangled by the spread of the disease, with an explosion of cases forcing some countries to reimpose containment measures just weeks after easing lockdowns.In Paris, Ubisoft shares dived after the gaming company revealed over the weekend that its second most powerful executive was among the senior staff to have left the firm as it pursues an internal investigation into sexual harassment allegations.Last month the French company, one of the world’s largest video game publishers whose portfolio includes Assassin’s Creed and Far Cry, launched a probe after allegations of sexual misconduct were shared online.Serge Hascoet, chief creative officer and the company’s second-in-command, has now resigned along with human resources director Cecile Cornet, Ubisoft said.Key figures around 1540 GMTLondon - FTSE 100: UP 1.3 percent at 6,176.19 (close)Frankfurt - DAX 30: UP 1.3 percent at 12,799.97 (close)Paris - CAC 40: UP 1.7 percent at 5,056.23 (close)EURO STOXX 50: UP 1.6 percent at 3,350.00 New York - Dow: UP 1.7 percent at 26,514.01Tokyo - Nikkei 225: UP 2.2 percent at 22,784.74 (close)Hong Kong - Hang Seng: UP 0.2 percent at 25,772.12 (close)Shanghai - Composite: UP 1.8 percent at 3,443.29 (close)West Texas Intermediate: FLAT at $40.56 per barrelBrent North Sea crude: DOWN 0.1 percent at $43.19Euro/dollar: UP at $1.1364 from $1.1300 at 2100 GMTDollar/yen: UP at 107.24 yen from 106.93 yenPound/dollar: DOWN at $1.2611 from $1.2622Euro/pound: UP at 90.10 pence from 89.53 Pages 123 RELATED ARTICLES Google to invest $10 billion in India Jul 14, 2020 0 615 Deep COVID-19 hit expected in Q2 earnings season Jul 14, 2020 0 613 UK business struggling with Brexit preparedness: Poll Jul 14, 2020 0 605 Top US aide expects tough action on TikTok, WeChat AFP San Francisco White House trade advisor Peter Navarro said Sunday he expected President Donald Trump to act firmly against the TikTok and WeChat applications, amid rising tensions between Washington and Beijing. .. Coronavirus pandemic batters tourism in picturesque Tbilisi AFP Tbilisi Spring has arrived in Tbilisi but its picturesque old town -- a whimsical mixture of Art Nouveau buildings and mediaeval churches -- is gloomy. Cafes are deserted and restaurants closed, and just a few people .. Lebanese struggle with hardship as currency nosedives dpa Beirut “Lebanon is finished!” shouted a woman inside a Beirut supermarket, visibly shocked by the prices of goods, which have soared due to the continued devaluation of the local pound. “We cannot continue like ..