Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Indexes & Markets

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

European stocks dip on second wave fears, Brexit uncertainty

share with twitter share with LinkedIn share with facebook
10/14/2020 | 12:16pm EDT
FILE PHOTO:  The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - European shares ended slightly lower on Wednesday, extending a decline from the previous day as surging coronavirus cases stoked fears of more sweeping lockdowns, with uncertainty over a Brexit trade deal also dampening the mood.

The pan-European STOXX 600 index fell 0.1%, with food and beverage <.SX3P>, healthcare and retail stocks leading declines.

Hopes of more stimulus to help businesses ride out the COVID-19 pandemic helped European shares track gains in global equities in the past few weeks, but prospects of more lockdowns and signs of a delay in a vaccine have since dented sentiment.

Italian Prime Minister Giuseppe Conte on Tuesday imposed new restrictions on gatherings, restaurants, sports and school activities.

"There is still hope that targeted restrictions might be able to contain the spread of the virus," said Commerzbank analyst Thu Lan Nguyen.

"If infection trends were to continue, this hope will start to dwindle though (and) it would look to the market as if the U.S. was handling the pandemic better after all."

London's FTSE 100 fell 0.6%, its third straight day of declines on growing domestic political wrangling over new business restrictions. [.L]

A stronger pound also weighed on the export-heavy index as sources said the European Union and Britain were set to prolong Brexit talks past a mid-October deadline imposed by British Prime Minister Boris Johnson.

The EU summit on Oct. 15-16 is set to conclude that progress so far is "still not sufficient" to seal a deal, and will also step up preparations for an abrupt split without provisions to avoid trade tariffs or quotas.

Meanwhile, data on Wednesday showed euro zone industrial production slowed sharply in August as expected, mainly due to a plunge in the output of capital goods even though it was cushioned to some extent by higher production of durable consumer goods.

In company news, Italy's Atlantia jumped 9.2% to the top of the STOXX 600 after entering exclusive talks until Oct. 18 with state lender Cassa Despositi e Prestiti over the sale of the group's motorway assets.

European food-ordering firm Just Eat Takeaway.com NV rose 6.5% as it said it had received 46% more orders in the third quarter, thanks to a surge in online orders.

Overall, third-quarter earnings at STOXX 600 firms are expected to have declined by 36.7% year-on-year, smaller than a 50.8% plunge in the second quarter, according to data from Refinitiv.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu/Arun Koyyur and Emelia Sithole-Matarise)

By Sagarika Jaisinghani


Stocks mentioned in the article
ChangeLast1st jan.
ATLANTIA SPA -3.17% 14.8 Delayed Quote.-26.48%
EURO / BRITISH POUND (EUR/GBP) 0.56% 0.9141 Delayed Quote.7.19%
EURO STOXX 50 -0.45% 3227.87 Delayed Quote.-13.64%
JUST EAT TAKEAWAY.COM N.V. -1.93% 106.75 Delayed Quote.31.57%
STOXX EUROPE 600 -0.35% 365.51 Delayed Quote.-11.79%
share with twitter share with LinkedIn share with facebook
Latest news "Markets"
12:24pEUROPE : European shares slip as BREXIT, lockdown worries outweigh upbeat earnings
RE
11:09aWALL STREET STOCK EXCHANGE : Stocks Open Higher Ahead of Stimulus Talks Deadline
DJ
10:59aWALL STREET STOCK EXCHANGE : Stocks Open Higher Ahead of Stimulus Talks Deadline
DJ
10:44aWALL STREET STOCK EXCHANGE : U.S. stocks gain, dollar falls as stimulus hopes grow
RE
10:06aTSX tracks Wall Street higher on U.S. stimulus hopes
RE
09:50aWALL STREET STOCK EXCHANGE : This could happen today
09:48aWALL STREET STOCK EXCHANGE : U.S. Stocks Open Higher Ahead of Stimulus Talks Deadline
DJ
09:17aU.S. Stock Futures Rise Ahead of Stimulus Talks Deadline
DJ
08:53aU.S. Stock Futures Rise Ahead of Stimulus Talks Deadline
DJ
08:28aU.S. Stock Futures Rise Ahead of Stimulus Talks Deadline
DJ
Latest news "Markets"