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    RR.   GB00B63H8491


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Europe a sea of red: German shares plunge up to 5% on emergency lockdown

10/28/2020 | 03:22am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* French stocks sink 3.4%

* Macron set to give a televised address later in the day

* Automakers lead losses

* Rolls-Royce surges 12.5%; Delivery Hero, Hexagon up on earnings

Oct 28 (Reuters) - German shares suffered their weakest day since early June on Wednesday as the government agreed on an emergency lockdown to combat surging COVID-19 cases, with other European markets following suit on fears of more curbs around the continent.

The German DAX sank as much as 5% before cutting some losses to close down 4.2% at its lowest in five months. The precise measures were still subject to negotiation, with sources saying the government had agreed to shut bars and restaurants from Nov. 2.

The pan-European STOXX 600 index fell 3% in its sharpest one-day drop in five weeks. France's main index dropped 3.4% ahead of a televised address by President Emmanuel Macron at 8:00 pm (1900 GMT) when he is expected to issue stay-at-home orders.

"News of renewed lockdown measures... will add further to growth concerns in the region, at a time when mobility indicators have already started to fall and survey indicators moderate," said Mohammed Kazmi, portfolio manager for UBP's Absolute Return Fixed Income team.

"This will likely drive European Central Bank President (Christine) Lagarde to remain dovish in her comments in the press conference tomorrow, laying out the path for more easing to come down the line."

Lagarde is due to speak at 1230 GMT on Thursday.

Ahead of that, the European Commission proposed new tax and trade measures on Wednesday to fight the pandemic around the EU, while sources said Germany aims to increase its debt plans next year to finance new coronavirus aid measures.

All sectors in Europe were firmly in the red, with the economically sensitive autos sector leading losses, down almost 5%.

U.S. stocks also tripped with surging cases there weighing on sentiment and no stimulus package in sight just a week ahead of the U.S. presidential election.

The downbeat mood overshadowed a batch of upbeat quarterly results from European companies, with Deutsche Bank AG and retailer Carrefour down despite upbeat results.

German online takeaway food company Delivery Hero and industrial technology group Hexagon, however, were among the rare gainers after robust earnings reports.

Aero-engine maker Rolls-Royce, meanwhile, soared 12.5% a day after shareholders approved a 2 billion pound ($2.61 billion) rights issue to bolster its finances. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Hugh Lawson)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CARREFOUR 0.41% 17.195 Real-time Quote.22.56%
DAX -0.13% 15673.64 Delayed Quote.14.25%
DELIVERY HERO SE 0.09% 111.15 Delayed Quote.-12.48%
DEUTSCHE BANK AG -1.08% 11.568 Delayed Quote.29.27%
HEXAGON AB 0.82% 123.5 Delayed Quote.14.36%
ROLLS-ROYCE HOLDINGS PLC -3.56% 107.96 Delayed Quote.-3.50%
STOXX EUROPE 600 0.18% 458.32 Delayed Quote.14.66%
STOXX EUROPE 600 NR 0.18% 1024.41 Delayed Quote.16.26%
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Sales 2021 11 845 M 16 716 M 16 716 M
Net income 2021 -77,3 M -109 M -109 M
Net Debt 2021 5 882 M 8 300 M 8 300 M
P/E ratio 2021 -88,7x
Yield 2021 -
Capitalization 8 941 M 12 616 M 12 617 M
EV / Sales 2021 1,25x
EV / Sales 2022 1,11x
Nbr of Employees 48 200
Free-Float 99,8%
Duration : Period :
Rolls-Royce Holdings plc Technical Analysis Chart | MarketScreener
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Technical analysis trends ROLLS-ROYCE HOLDINGS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Average target price 109,86 GBX
Last Close Price 107,36 GBX
Spread / Highest target 50,9%
Spread / Average Target 2,33%
Spread / Lowest Target -51,6%
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Managers and Directors
David Warren Arthur East Chief Executive Officer & Director
Panos Kakoullis Chief Financial Officer & Executive Director
Ian Edward Lamert Davis Chairman
Paul Stein Chief Technology Officer
Hsien Yang Lee Independent Non-Executive Director
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