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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145

EURO STOXX 50

Real-time Estimate Quote. Real-time Estimate TTMzero - 01/21 05:05:49 pm
3625.58 PTS   +0.04%
03:25aEUROPE : European shares extend gains on U.S. stimulus hope
RE
01/20EUROPE : Wall Street bounce, upbeat earnings lift European stocks
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01/19EUROPE : European stocks slip as lockdown worries resurface
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SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

European stocks in reverse as U.S.-China tensions spike

07/22/2020 | 10:15am EST
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

European shares slid on Wednesday as escalating U.S.-China tensions and a surge in coronavirus cases dented sentiment after an EU-wide debt deal sent the region's markets to four-month highs in the previous session.

Breaking a three-day winning streak, the pan-European STOXX 600 closed down 0.9% to post its sharpest one-day drop in a month.

Beijing said Washington had abruptly told it to close its consulate in the city of Houston, a move strongly condemned by China. In response, the Asian country is considering closing the U.S. consulate in Wuhan, a source said.

Energy stocks took the biggest hit, down 2.8% after data showed a bigger-than-expected inventory build-up in the United States, adding to the pressure on oil prices. Royal Dutch Shell, BP and Total SA dropped more than 3%.

U.S. President Donald Trump warned overnight the pandemic would get worse before it got better, while a Reuters tally showed global COVID-19 infections surged past 15 million on Wednesday.

The news deflated the positive mood after European Union members reached a deal on Tuesday over a 750-billion-euro (683 billion pounds) coronavirus recovery fund to help with the bloc's economic recovery from the virus outbreak.

"Markets... swing between despair at the mounting number of COVID-19 cases across the globe, and hope driven by financial stimulus and developments on a potential vaccine," said AJ Bell investment director Russ Mould.

Healthcare stocks marked their worst session in a month, while China-sensitive basic material stocks lost 1.4%.

In earnings, UK home improvement chain Kingfisher had its best day in more than three decades, up 14.6%, after it forecast first-half underlying profit ahead of last year.

Swiss engineering firm ABB Ltd rose 2.8% after saying its order situation could improve in the coming months.

Industrial group Melrose Industries, meanwhile, dropped 14.2% after it signalled it could lay off an unspecified number of employees following losses in the second quarter.

Automakers were hit by a 1.3% slide in French car parts maker Valeo after it swung to a 1.2 billion euros first-half loss.

Expectations for second-quarter corporate profits in Europe have further deteriorated, Refinitiv data shows, as fears grow over the extent of the recession triggered by the pandemic.

Companies listed on the STOXX 600 are expected to report a decline of 58.6% in quarterly earnings, versus 56.2% forecast the week before.

By Sruthi Shankar and Susan Mathew


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.80% 26.58 End-of-day quote.6.72%
AJ BELL PLC -1.18% 462 End-of-day quote.7.84%
BP PLC -2.69% 294.7 End-of-day quote.18.86%
EURO STOXX 50 -0.05% 3622.09 End-of-day quote.2.01%
KINGFISHER PLC 2.07% 270.9 End-of-day quote.-1.85%
LONDON BRENT OIL 0.45% 55.92 End-of-day quote.8.20%
MELROSE INDUSTRIES PLC -3.17% 178.65 End-of-day quote.3.62%
ROYAL DUTCH SHELL PLC -1.89% 16.482 End-of-day quote.14.96%
STOXX EUROPE 600 0.10% 411.25 End-of-day quote.2.96%
STOXX EUROPE 600 NR 0.10% 906.95 End-of-day quote.3.01%
TOTAL SE -2.10% 36.56 End-of-day quote.5.79%
VALEO 1.82% 31.92 End-of-day quote.-2.88%
WTI 0.41% 53.159 End-of-day quote.10.35%
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Chart EURO STOXX 50
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Euro Stoxx 50 Technical Analysis Chart | MarketScreener
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Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Top / Flop EURO STOXX 50
ASML HOLDING N.V. 471 Real-time Quote.3.94%
VOLKSWAGEN AG 162.23 Real-time Estimate Quote.2.92%
ADYEN N.V. 1917.5 Real-time Quote.2.21%
DAIMLER AG 59.115 Real-time Estimate Quote.2.08%
KONE OYJ 65.81 Real-time Estimate Quote.1.72%
VINCI SA 81.74 Real-time Quote.-2.20%
ENI S.P.A. 8.703 Real-time Estimate Quote.-2.22%
SAFRAN 112.35 Real-time Quote.-2.22%
AIRBUS SE 89.69 Real-time Quote.-2.94%
AMADEUS IT GROUP, S.A. 54.94 Real-time Estimate Quote.-3.17%
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