U.S. Covid-19 cases spike by 250,000 in five days but markets are undeterred, closing firmly in the green. White House health advisor Dr Anthony Fauci says there are increased numbers of young people affected by the virus and that immunity may be finite. Chinese markets also see five days of big gains but a U.S. government official says President Trump is preparing several executive orders which could hit Chinese manufacturing, immigration and jobs to “reset the balance” with the country. In France, President Macron completes a government re-shuffle in a bid to shore up the post-pandemic recovery as well as his 2022 re-election prospects. And in tech news, Samsung shares are down despite a 23 per cent jump in operating profit in the second quarter. Chip demand had reportedly offset weak demand for smartphones and televisions during the virus outbreak.  

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