Good morning from the Financial Times. Today is Monday, April 27th. This is your FT news briefing.

An FT analysis found that the global death count from coronavirus might be much worse than official counts indicate.

Plus I'll chat with our global financial correspondent Robin Wigglesworth about the divergence between

surging equity markets and the struggling economy.

And Geichizan will report from Berlin

where shops and the German capital have reopened.

I'm Mark Filipino, and here's the news you need

to start your day.

As of the time I'm recording this, there are more than 200,000 recorded deaths

around the world from coronavirus.

But in reality, that total could be much higher. The

F.T. conducted an analysis of overall fatalities during the pandemic in 14

countries. My colleagues found that the global coronavirus death toll could be almost 60% higher than what's reported in official counts.

Here's how they figured that out. Our data journalists took the deaths from all causes in the weeks of a location's outbreak in March and April of this year.

Then they compared that to the average for the same period between 2015 and 2019.

In all the countries analyzed, except for Denmark, excess deaths far outnumber the official

coronavirus death tolls. Some of these deaths may be the result of causes other than COVID-19,

but excess deaths have risen most steeply in places with the worst outbreaks.

It suggests that most of these deaths are directly related to the virus, rather than the

side effects of lockdowns.

Now the accuracy of the official virus death statistics depends on how effective a

country is testing people to confirm cases.

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