European stocks fall to two-week low

2020-07-28 11:45:24 GMT (Economies.com)
European stocks fall to two-week low

European stocks fell on Tuesday, to deepen losses for the fifth straight session, hitting a 2-week low, due to a large drop in the mining and core resources sector, in addition to investors' risk aversion due to concerns over a coronavirus infections spike in Spain.

 

The Stoxx Europe 600 index fell 0.3% to the lowest level since July 14 at 364.75 points as of 10:25 GMT, after it lost 0.3% yesterday, posting the fourth straight daily loss due to a large drop in the travel and entertainment sector.

 

The pan European index opened lower today, to deepen its losses for the fifth straight session, and hit a 2-week low, with most of the major European markets and sectors seeing red today.

 

The core resources sector saw the largest losses in Europe today, dropping 1.5%, due to concerns due to the trade relations between the US and China.

 

Concerns over the coronavirus were raised following the British government's decision that travelers returning from Spain will have to quarantine for 2 weeks, after a spike in coronavirus cases in Spain.

 

S&P 500 futures fell 0.5%, after the index closed higher by 0.75% yesterday at Wall Street, posting its first gain in 3 days on growing odds for the US to extend its stimulus measures.

 

Back to Europe, the Euro Stoxx 50 index fell 0.3%, France's CAC 40 fell 0.7%, Germany's DAX lost 0.4%, and the UK's FTSE 100 slipped 0.2%.

 
 
 
  Symbol Last Change Chg.%
1.1815
0.0105
0.9005%
1.3076
0.0061
0.4683%
Tadawul
7499.97
10.08
0.13%
28.136
3.889
16.039%
41.485
1.050
2.597%
44.59
-0.48
1.07%
2055.400
86.045
4.369%
 
 
US
 
Europe
 
Asia