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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145

EURO STOXX 50

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European stocks ease from recent peak on global virus worries

11/19/2020 | 12:11pm EST
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - European stocks fell on Thursday as investors feared another round of shutdowns due to soaring coronavirus cases globally, with growth-linked cyclical stocks leading losses across regional markets.

The pan-European STOXX 600 closed 0.8% lower, easing from an eight-month high hit earlier this week.

Miners, travel, oil and gas and banking sectors that have rallied strongly in November on positive COVID-19 vaccine data, shed almost 2%.

Media stocks rose, while utilities and tech firms posted minor losses.

U.S. stocks also slipped from all-time highs as New York City's public schools called a halt to in-classroom instruction in the latest major restriction to curb the spread of the virus.

"With infection and hospitalisation rates rising, and the risk that current lockdown restrictions either remain in place, or get extended into 2021, the probability that any economic damage will become permanent is only likely to increase," Michael Hewson, chief market analyst at CMC Markets said in a note.

Investors have been weighing the consequences of tighter restrictions globally on economic growth against hopes of a COVID-19 vaccine supporting a recovery.

European Central Bank President Christine Lagarde called on EU leaders to end a potentially damaging budget impasse and repeated a promise to keep monetary policy super easy.

A Reuters poll showed economists expect the euro zone economy to shrink 2.5% this quarter after expanding a record 12.6% in the previous quarter.

Among individual stocks, ailing German conglomerate Thyssenkrupp fell 3.4% after it said it would need to cut a further 5,000 jobs to ease the impact of the coronavirus crisis on its businesses.

Norwegian Air slumped 15.7% after it filed for bankruptcy protection as it seeks to stave off collapse amid the pandemic.

Germany's HelloFresh jumped 6.6% after its CEO said the meal-kit delivery firm would expand its capacity to supply U.S. diners by 50% by mid-2021.

Debt-laden Spanish media firm PRISA surged 21.0% after it said it had received an offer for El Pais daily and its other media assets from Spanish businessman Blas Herrero.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva, Kirsten Donovan)

By Sruthi Shankar


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CMC MARKETS PLC 2.64% 427.5 Delayed Quote.9.34%
EURO STOXX 50 -1.15% 3599.55 Delayed Quote.1.32%
HELLOFRESH SE -3.89% 61.85 Delayed Quote.-2.14%
LONDON BRENT OIL -2.91% 54.8 Delayed Quote.9.17%
STOXX EUROPE 600 -1.01% 407.85 Delayed Quote.2.21%
THYSSENKRUPP AG -2.25% 9.228 Delayed Quote.13.59%
WTI -3.09% 52.11 Delayed Quote.11.60%
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Chart EURO STOXX 50
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Top / Flop EURO STOXX 50
AHOLD DELHAIZE N.V. 24.86 Real-time Quote.1.51%
DANONE S.A 53.62 Real-time Quote.1.32%
KONE OYJ 65.6 Delayed Quote.1.05%
KONINKLIJKE PHILIPS N.V. 45.01 Real-time Quote.0.73%
SANOFI 81.53 Real-time Quote.0.69%
ASML HOLDING N.V. 435.85 Real-time Quote.-2.57%
DAIMLER AG 56.26 Delayed Quote.-2.68%
ADIDAS AG 281.8 Delayed Quote.-2.76%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 493.95 Real-time Quote.-2.77%
BANCO SANTANDER, S.A. 2.7205 Delayed Quote.-2.87%
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