(RTTNews) – European stocks tumbled Thursday amid renewed concern over the impact of the rapidly spreading coronavirus epidemic on the global economy.
The mood of stock markets around the world has returned to bearish despite the reduction in their interest rates by the US Federal Reserve, the Bank of Canada and the Reserve Bank of Australia to counter the impact of the virus.
The International Monetary Fund (IMF) yesterday announced a $ 50 billion aid program to combat the impact of the coronavirus. The money is available now for low-income and emerging countries, said the IMF.
Still, investors weren’t in the mood to create new long positions, and rather seemed to want to get out of the windows.
The latest figures from the World Health Organization show that more than 95,000 people have been infected with the virus and about 3,270 people have died from the infection.
The pan-European Stoxx 600 fell 1.43%. The main European markets, the United Kingdom, Germany, France and Switzerland, all finished in sharp decline. The UK’s FTSE fell 1.62%, the German DAX by 1.51% and the French CAC 40 by 1.9%, while the Swiss SMI lost 1.05%.
Infineon and Henkel lost 5.7% and 5.3% respectively. Daimler, Lufthansa, Deutsche Bank, Covestro, Volkswagen, Deutshe Post, HeidelbergCement and Siements fell 2 to 4%.
In the UK market, ITV and Evraz both finished down about 12%. Carnival, IAG and Rio Tinto lost 7 to 7.3%.
The Capita Group’s shares plunged more than 38% amid concerns about the company’s recovery plan.
Amigo fell 34%, HostelWorold lost 16.7% and Premier Oil lost 14.4%.
Among other markets in Europe, Austria, Belgium, the Czech Republic, Finland, Greece, Iceland, Ireland, Italy, Norway, Poland, Portugal, Spain and Sweden lost 1 to 5.5%.
Denmark, the Netherlands and Russia closed slightly lower, while Turkey ended on a positive note.
In France, Renault finished down more than 7.5%. ArcelorMittal, Société Générale, Publicis Groupe, Unibail Rodamco, Crédit Agricole and BNP Paribas lost 4 to 6.5%.
Safran, Michelin, Accord, Airbus Group, Technip, Essilor Luxottica, Louis Vuitton, Legrand and Peugeot lost 2 to 4%.
In the German market, Continental AG shares fell 12.5% after the company recorded a net loss of 1.23 billion euros (1.37 billion dollars) for 2019, compared to a net profit of 2.90 billion euros a year earlier.
Meanwhile, Bank of England deputy governor Ben Broadbent said the economic impact of the coronavirus would ultimately be temporary.
“Judging from past episodes, the impact is likely to be temporary in the end,” he said in a speech to London Business School. “As such, the epidemic is not expected to directly affect the long-term viability and production potential of most businesses or the economy as a whole.”
In addition, he said that economic policy could have a role to play in supporting activity and lending in the meantime, to ensure that short-term disruptions do not cause damage in the longer term. term.
According to data released by the Society of Motor Manufacturers and Traders, car registrations fell 2.9% on an annual basis to 79,594 units in February. It is traditionally one of the quietest months before the crucial license plate change in March.
The IHS Markit Germany Construction Purchasing Managers, or PMI, index reached 55.8 against 54.9 in January. The last reading was the best since January 2018. A score above 50 suggests growth in the sector.
Residential construction growth accelerated for the fifth consecutive month at its fastest pace in more than two years. Commercial construction activity increased for the second consecutive month to an 11-month high.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) – European stocks tumbled Thursday amid renewed concern over the impact of the rapidly spreading coronavirus epidemic on the global economy.
The mood of stock markets around the world has returned to bearish despite the reduction in their interest rates by the US Federal Reserve, the Bank of Canada and the Reserve Bank of Australia to counter the impact of the virus.
The International Monetary Fund (IMF) yesterday announced a $ 50 billion aid program to combat the impact of the coronavirus. The money is available now for low-income and emerging countries, said the IMF.
Still, investors weren’t in the mood to create new long positions, and rather seemed to want to get out of the windows.
The latest figures from the World Health Organization show that more than 95,000 people have been infected with the virus and about 3,270 people have died from the infection.
The pan-European Stoxx 600 fell 1.43%. The main European markets, the United Kingdom, Germany, France and Switzerland, all finished in sharp decline. The UK’s FTSE fell 1.62%, the German DAX by 1.51% and the French CAC 40 by 1.9%, while the Swiss SMI lost 1.05%.
Infineon and Henkel lost 5.7% and 5.3% respectively. Daimler, Lufthansa, Deutsche Bank, Covestro, Volkswagen, Deutshe Post, HeidelbergCement and Siements fell 2 to 4%.
In the UK market, ITV and Evraz both finished down about 12%. Carnival, IAG and Rio Tinto lost 7 to 7.3%.
The Capita Group’s shares plunged more than 38% amid concerns about the company’s recovery plan.
Amigo fell 34%, HostelWorold lost 16.7% and Premier Oil lost 14.4%.
Among other markets in Europe, Austria, Belgium, the Czech Republic, Finland, Greece, Iceland, Ireland, Italy, Norway, Poland, Portugal, Spain and Sweden lost 1 to 5.5%.
Denmark, the Netherlands and Russia closed slightly lower, while Turkey ended on a positive note.
In France, Renault finished down more than 7.5%. ArcelorMittal, Société Générale, Publicis Groupe, Unibail Rodamco, Crédit Agricole and BNP Paribas lost 4 to 6.5%.
Safran, Michelin, Accord, Airbus Group, Technip, Essilor Luxottica, Louis Vuitton, Legrand and Peugeot lost 2 to 4%.
In the German market, Continental AG shares fell 12.5% after the company recorded a net loss of 1.23 billion euros (1.37 billion dollars) for 2019, compared to a net profit of 2.90 billion euros a year earlier.
Meanwhile, Bank of England deputy governor Ben Broadbent said the economic impact of the coronavirus would ultimately be temporary.
“Judging from past episodes, the impact is likely to be temporary in the end,” he said in a speech to London Business School. “As such, the epidemic is not expected to directly affect the long-term viability and production potential of most businesses or the economy as a whole.”
In addition, he said that economic policy could have a role to play in supporting activity and lending in the meantime, to ensure that short-term disruptions do not cause damage in the longer term. term.
According to data released by the Society of Motor Manufacturers and Traders, car registrations fell 2.9% on an annual basis to 79,594 units in February. It is traditionally one of the quietest months before the crucial license plate change in March.
The IHS Markit Germany Construction Purchasing Managers, or PMI, index reached 55.8 against 54.9 in January. The last reading was the best since January 2018. A score above 50 suggests growth in the sector.
Residential construction growth accelerated for the fifth consecutive month at its fastest pace in more than two years. Commercial construction activity increased for the second consecutive month to an 11-month high.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.