European stocks seen higher amid dampened sentiment

European stock markets closed higher earlier on Friday, taking back some lost ground after sharp decline in the previous session. However, many speculate that gains could be short-lived as concerns mount over the economic impact of the COVID-19 pandemic.

DAX futures in Germany closed 0.1% higher at 2:10 AM ET (0610 GMT), while CAC futures in France gained 1%. In the U.K., FTSE futures saw a gain of 0.8%. 

On Thursday, European stock indices saw record losses in more than three weeks, with the pan-European STOXX index erasing gains from October to a record slump since September 21.

While Friday is likely to result in limited gains, European equities have mostly lost steam with the resurgence of the pandemic, an impasse in U.S. stimulus talks, and the potential for the U.K’s trade negotiations with the European Union to end badly.