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  >  Indexes  >  Switzerland  >  Stoxx Europe 600    SXXP   EU0009658202

STOXX EUROPE 600

(SXXP)
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

Travel stocks slump in Europe as virus cases surge, banks drag

share with twitter share with LinkedIn share with facebook
09/18/2020 | 01:23pm EDT
The German share price index DAX graph at the stock exchange in Frankfurt

European equity markets closed lower on Friday, with travel, banking and auto shares leading declines as a resurgence in coronavirus cases across the continent rekindled fears about the pandemic's impact on a nascent economic recovery.

The pan-European STOXX 600 index fell 0.7%, with the banking-heavy Spanish index down 2.2% and the French and Italian bourses more than 1% lower.

London's FTSE 100 slipped 0.7%, with British-Airways owner ICAG, easyJet and cruise operator Carnival down between 8% and 15% as talk of a second lockdown in the United Kingdom did the rounds after new COVID-19 cases almost doubled to 6,000 per day.

Travel and leisure was the worst-performing sector, down 3.5%.

Other European nations from Denmark to Greece announced new restrictions to curb surging coronavirus infections in some of their largest cities.

"If the uptick in cases becomes strong enough that lockdowns have to be tightened to a point that it derails the economic recovery, then it becomes a risk factor," said Mobeen Tahir, associate director of research at fund house Wisdom Tree.

The banking index <.SX7P> fell 2.6%, hitting its lowest level since May 26 and on course for record-lows as major central banks pledged to keep interest rates lower for a long time, with the Bank of England looking at taking borrowing costs to sub-zero levels, if needed.

Sparking hopes of consolidation among lenders battling the fallout from the COVID-19 pandemic, Caixabank agreed to buy state-owned Bankia for 4.3 billion euros ($5.10 billion) to create Spain's biggest domestic bank.

Bankia fell 4.8% and Caixabank was down 2.2% after rallying in the run up to the announcement.

Swedbank, SEB, Handelsbanken and Nordea were down between 1.8% and 5.3% on fears that the Swedish banks will bear the brunt of a recently proposed government "risk tax".

Separately, Sweden's financial watchdog said it was investigating Swedbank for potential market abuse.

The STOXX 600 still eked out 0.2% weekly gain as some major retail companies showed resilience in earnings earlier this week and a string of takeovers enlivened global M&A activity.

The London Stock Exchange Group entered exclusive talks to sell Borsa Italiana to France's Euronext, driving its shares up 4.3%.

Swedish telecoms gear maker Ericsson was up 1.3% after it agreed to buy U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D'Silva and Kirsten Donovan)

By Sruthi Shankar


Stocks mentioned in the article
ChangeLast1st jan.
BANKIA, S.A. 0.14% 1.0635 Delayed Quote.-44.10%
CAIXABANK, S.A. 0.16% 1.574 Delayed Quote.-43.75%
CARNIVAL CORPORATION & PLC 5.53% 12.98 Delayed Quote.-75.80%
CARNIVAL PLC -0.07% 838.2 Delayed Quote.-77.00%
EASYJET PLC 1.48% 495.1 Delayed Quote.-65.24%
ERICSSON AB 0.05% 100.7 Delayed Quote.23.41%
EURONEXT N.V. 2.83% 90.8 Real-time Quote.24.98%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -2.80% 91.08 Delayed Quote.-78.02%
LONDON STOCK EXCHANGE PLC 0.79% 8394 Delayed Quote.8.31%
NORDEA BANK ABP. -0.14% 65.82 Delayed Quote.-12.86%
SKANDINAVISKA ENSKILDA BANKEN AB -0.78% 76.6 Delayed Quote.-12.35%
STOXX EUROPE 600 -0.12% 341.76 Delayed Quote.-15.21%
STOXX EUROPE 600 NR -0.10% 751.88 Delayed Quote.-13.59%
SVENSKA HANDELSBANKEN AB -0.16% 72.88 Delayed Quote.-27.65%
SWEDBANK AB -0.71% 139.36 Delayed Quote.0.65%
share with twitter share with LinkedIn share with facebook
All news about STOXX EUROPE 600
05:27pDow Industrials Snap Four-Session Losing Streak
DJ
04:58pStocks rally to pare weekly loss; oil falls further
RE
04:17pWALL STREET STOCK EXCHANGE : U.S. Stocks Rise Ahead of Tech Earnings -- Update
DJ
02:30pWALL STREET STOCK EXCHANGE : U.S. Stocks Rise Ahead of Tech Earnings
DJ
01:03pEUROPE : European stocks fall after ECB holds fire; German shares rebound
RE
12:55pWALL STREET STOCK EXCHANGE : U.S. Stocks Edge Up Ahead of Tech Earnings
DJ
11:06aWALL STREET STOCK EXCHANGE : U.S. Stocks Edge Up Ahead of Tech Earnings
DJ
10:30aWALL STREET STOCK EXCHANGE : U.S. Stocks Edge Up Ahead of Tech Earnings
DJ
09:48aWALL STREET STOCK EXCHANGE : U.S. Stocks Waver Ahead of Busy Earnings Day
DJ
09:35aU.S. Stock Futures Waver Ahead of Busy Earnings Day
DJ
More news
News of the index components STOXX EUROPE 600
06:12pCREDIT SUISSE GROUP AG : RBC gives a Neutral rating
MD
06:11pExxon to Slash Up to 15% of Global Workforce, Including 1,900 Jobs in U.S. --..
DJ
05:49pEU to fund transfer of COVID-19 patients across borders to prevent hospitals ..
RE
05:39pEU Commission says talking to four companies on COVID vaccine
RE
05:30pCONTINENTAL : Elmar Degenhart Decides to Resign Early From His Position as...
PU
05:24pLLOYDS BANKING GROUP : RBC maintains a Buy rating
MD
05:23pAIRBUS : Goldman Sachs maintains a Buy rating
MD
More news
Chart STOXX EUROPE 600
Duration : Period :
Stoxx Europe 600 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends STOXX EUROPE 600
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Top / Flop STOXX EUROPE 600
NEMETSCHEK SE 64 Delayed Quote.11.60%
GLANBIA PLC 8.385 Delayed Quote.8.90%
GRENKE AG 34 Delayed Quote.8.83%
FLUTTER ENTERTAINMENT PLC 146.4 Delayed Quote.8.28%
VESTAS WIND SYSTEMS A/S 1095.5 Delayed Quote.7.61%
CREDIT SUISSE GROUP AG 8.602 Delayed Quote.-5.56%
TENARIS S.A. 3.828 Delayed Quote.-5.85%
STANDARD CHARTERED PLC 345 Delayed Quote.-7.68%
ROLLS-ROYCE HOLDINGS PLC 72.4 Delayed Quote.-14.36%
NOKIA OYJ 2.81 Delayed Quote.-18.48%
Heatmap :