Fears Hit European Shares

In Europe, the main indices are on a red light, losing more than 1%, penalized by the disappointing results of some of the largest American banks and by the inevitable postponement of new stimuli in the United States until after the November 3 elections.

Yesterday, Wells Fargo and Bank of America presented results below analysts’ expectations, planting doubts about how the financial sector is facing the crisis motivated by the covid-19.

This was on the same day that US Treasury Secretary Steven Mnuchin dashed hopes for a stimulus agreement before the elections, stressing that it will be “difficult” to reach any understanding in time.

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The European stock markets, swallowed Borsa Italiana, the Paris financial center, for its part, gave a very unattractive spectacle for international investors.

Veolia’s offensive on Suez, its lifelong competitor, turned into a rat race involving leaders, unions, government, not to mention the national representation where the idea of ​​a bill against hostile takeover bids “in time state of health emergency ”has even germinated in some minds.

The Stoxx Europe index fell in morning trade on Wednesday to continue moving away from its highest level in six weeks for the second consecutive session, with most of the major European exchanges and sectors in negative territory.

The travel and entertainment sector, topped the list of losing sectors in Europe, with a decrease of nearly 1.0%, due to negative news about the Corona virus.

As the epidemic remains the main concern for investors, and in the event of developments, two of the most important trials of Covid-19 virus drugs in the United States have stopped due to safety concerns.

Johnson & Johnson announced that it had temporarily stopped trials of the last stage of the Coronavirus vaccine, after a strange symptom appeared on a person receiving the vaccine, and the trial of antibody treatment for Eli Lilly was also postponed.

Futures contracts for the Standard & Poor’s 500 Index fell by more than 0.2%, and the index ended yesterday’s session on Wall Street down 0.6%, in the first loss within the last five sessions, due to correction and profit-taking operations.

In Europe, the Euro Stock 50 index fell by 0.3%, in France the CAC 40 index fell by 0.2%, and in Germany the DAX index fell by 0.2%, and in London the FTSE 100 index lost 0.2%.

Editor’s note: This article is for reference only and does not constitute an offer, or invitation, inducement, any representation r Apple Sharesegardless of type or form, or make any suggestions and recommendations. Readers should use their independent thinking ability to make their own investment decisions If any losses are incurred due to the relevant recommendations, it has nothing to do with istanbulpost.com.tr, the editor and the author.

 

 

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