Second COVID wave, key PMI data to impact markets as UK preps to reopen restaurants

Investors will be watching to see what UK Prime Minister Boris Johnson announces regarding guidelines for the hospitality sector including pubs and restaurants to reopen in July. This would give the economy a much needed boost and will follow from positive news that the UK's virus alert level has been downgraded from four to three. Analysts at ING have said second COVID-19 waves are set to keep hitting investor sentiment worldwide while IHS Markit said upcoming data will be scrutinised eagerly for clues as to the length and depth of recessions caused by the pandemic, most notably the flash PMI updates for the US and Europe.