European stocks fall to week low, led by energy sector

2020-07-10 10:27:13 GMT (Economies.com)
European stocks fall to week low, led by energy sector

European stocks fell on Friday, to deepen losses for the fourth straight session, on investors' risk-aversion, amid concerns over the coronavirus outbreak, a new record spike of infections in the US, and after the reemergence of new cases in Australia, while the energy sector was weighed down by falling oil prices.

 

The Stoxx Europe 600 index fell 0.3% as of 11:35 GMT, hitting a week low of 361.78 points, after closing lower by 0.8% yesterday.

 

The pan European index opened lower today, to deepen losses for the fourth straight session, and hit a week low, with most European markets and sectors seeing red today.

 

The energy sector saw the largest losses in Europe today, with a drop by 1.5%, weighed down by falling oil prices.

 

Reuters reported that the US coronavirus infections saw a spike by more than 60,500 new cases of on Thursday, which is a new daily record, and California and Florida among 12 states set records in an average of seven days for daily new cases.

 

The World Health Organization has warned that the virus is getting worse in most parts of the world, and Johns Hopkins University reported that infections more than 12.2 million confirmed cases worldwide.

 

Reuters also reported that the the second most populous city in Australia, Melbourne, has been locked down again, after a surge in coronavirus infections.

 

S&P 500 futures fell more than 0.75%, after the index closed lower by 0.6% yesterday at Wall Street, on fears over a second coronavirus wave.

 

Back to Europe, the Euro Stoxx 50 index fell 0.3%, France's CAC 40 fell 0.4%, Germany's DAX fell 0.2%, and the UK's FTSE 100 lost 0.1%.

 
 
 
  Symbol Last Change Chg.%
1.1755
0.0045
0.3822%
1.3067
0.0052
0.3965%
Tadawul
7459.21
4.14
0.06%
24.312
0.066
0.270%
41.075
0.640
1.583%
44.40
0.88
2.02%
1974.145
4.790
0.243%
 
 
US
 
Europe
 
Asia