European Stocks Fall with Concern that 2nd Wave of Coronavirus
European stocks fell from the eight-month highs on Thursday, with the rise due to the coronavirus raising doubts about a faster economic recovery and overshadowing several positive quarterly balance sheets.
The pan-European STOXX 600 index fell 0.8%, reversing its trajectory after having so far gained 12.5% in the month.
The bank index led the declines between segments after its best three-day winning streak since the global financial crisis of 2009, while travel stocks fell 0.6% after rising earlier in the week in hopes of an effective vaccine against Covid-19.
Financial stocks were the biggest obstacle to the STOXX 600.
“Markets are reevaluating the data … (the mass availability of a vaccine) could take months, while the resurgence of the second / third wave in Europe and the United States is affecting the number of hospitalizations and invoking the re-imposition of lockdowns,” they said. analysts at Mizuho Bank.
On Wednesday, France overtook Russia as the most affected country in Europe, while Italy surpassed the 1 million infection mark and became, globally, one of the 10 most affected countries.
In London, the Financial Times fell 0.68% to 6,338 points.
In Frankfurt, the DAX index fell 1.24% to 13,052 points.
In Paris, the CAC-40 index lost 1.52%, to 5,362 points.
In Milan, the Ftse / Mib index fell 0.83% to 20,817 points.
In Madrid, the Ibex-35 index fell 0.87% to 7,726 points.
In Lisbon, the PSI20 index appreciated 0.59%, to 4,370 points.
European Stocks Fall with Concern that 2nd Wave of Coronavirus - /10