European stocks fall after coronavirus infections pass 1-million mark

2020-04-03 12:46:18 GMT (Economies.com)
European stocks fall after coronavirus infections pass 1-million mark

European stocks opened lower on Friday, to head for the first daily loss in 3 days, due to mounting fears over the coronavirus after infections increased to more than 1 million cases worldwide, and many corporate warnings about a slowdown in profits due to the pandemic. 

 

The Stoxx Europe 600 index fell 0.5% as of 11:05GMT, after it closed higher by 0.4% yesterday, its third daily gain in 4 days, lifted by strong gains in the energy sector.

 

The index opened today's session lower, with most European markets and sectors seeing red today.

 

The insurance sector saw the largest losses in Europe today, as its stocks dropped more than 3%, on estimates for sharp losses to the sector's companies during this year due to the coronavirus pandemic.

 

Coronavirus infections worldwide surpassed the 1 million cases barrier on Thursday, according to data by Johns Hopkins University, and the death toll rose to over 53,000 victims, as Italy and Spain reported more than 115,000 and 112,000 cases, and Germany reported 84,000.

 

 S&P 500 futures fell 1.1%, after the index closed higher by 2.3% yesterday at Wall Street, its first daily gain in 3 sessions on oil prices recovery.

 

Back to Europe, the Euro Stoxx 50 index fell 0.75%, France's CAC 40 fell 1.1%, the German DAX dipped 0.5%, and the UK's FTSE 100 lost 1.3%.

 
 
 
  Symbol Last Change Chg.%
1.1310
0.0191
1.7146%
1.2660
0.0246
1.9841%
Tadawul
7207.78
-14.63
0.20%
17.459
-0.620
3.429%
39.166
4.679
13.567%
41.54
1.55
3.88%
1691.350
-41.335
2.386%
 
 
US
 
Europe
 
Asia