However, concerns are now swirling about a second wave with Beijing on Monday reporting its second consecutive day of record numbers of Covid-19 cases, while new cases and hospitalisations in record numbers swept through more US states. Worldwide coronavirus cases have crossed 7.86 million with 430,501 deaths, according to a Reuters tally. "We assume that any second wave is likely to be more manageable than the first given earlier policy experience," analysts at Morgan Stanley wrote in a note. Oil fell more than 3pc on Monday, extending losses from last week, on worries renewed outbreaks of the coronavirus could weigh on the recovery of fuel demand. Brent crude futures fell 3.5pc, to $37.39 a barrel by 06:12 GMT, while US West Texas Intermediate crude futures were down 4.9pc, to $34.49 a barrel.

Source: Irish Independent June 15, 2020 06:45 UTC