European stocks retreat from records on profit-taking

2020-02-14 11:52:31 GMT (Economies.com)
European stocks retreat from records on profit-taking

European stocks fell on Friday, on profit taking from all-time highs as investors parse the latest developments of the coronavirus health crisis in China, and its impact on the world's second largest economy.

 

The Dow Jones Stoxx Europe 600 index declined by 0.2% until 08:55 GMT, after earlier recording a new record level at 431.51 points, and the index ended yesterday's session stable without any significant change.

 

The Stoxx Europe 600 index was lower by 0.2% at 08:55 GMT, after reaching its all-time high of 431.51 points earlier today, while it closed flat yesterday.

 

The European pan index opened today's session lower, pulling back from all-time highs on profit taking, with most of the major European exchanges and sectors falling today.

 

Investors are monitoring the latest developments in the Chinese coronavirus health crisis, amid anticipation for any updates on the extent of its impact on growth of the Chinese economy.

 

The National Health Commission of China revealed today that new cases of coronavirus rose by 5,090, and death toll increased by 121 victims.

 

The World Health Organization stated that the coronavirus spread does not accelerate outside China, which diminished concerns about its impact on most global economies, but the focus is still on the Chinese economy.

 

S&P 500 futures rose 0.2% today, after the index closed lower by 0.2% yesterday at Wall Street, posting its first daily loss in 4 days, on profit taking from its record high of 3,385.09 points.

 

Back to Europe, the Euro Stoxx 50 index lost 0.2%, France's CAC 40 fell by 0.25%, and the UK's FTSE 100 fell by 0.3%.

 

While the German DAX lost 0.1%, on profit taking after it reached its all-time high of 13,766.44 points.

 
 
 
  Symbol Last Change Chg.%
1.1032
0.0217
2.0042%
1.2823
-0.0125
0.9642%
Tadawul
7628.34
-82.78
1.07%
16.623
-1.869
10.109%
45.175
-8.158
15.296%
50.52
-1.66
3.18%
1580.940
-62.705
3.815%
 
 
US
 
Europe
 
Asia