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European Stock Markets Plummet Amid Wuhan Virus Anxiety

European equity benchmarks went down on Monday as concerns over the economic impact of the Wuhan virus outbreak affected the sentiment, while markets were shrugging off a rally from last week.

The pan-regional STOXX 600 index decreased by 0.24 percent, to 423,33 at 0930 GMT, with the travel and leisure sector leading the losses on Monday.

germany stocks dropPhoto: Flickr

  • UK’s FTSE 100  slipped by 0.22 percent, to 7,450;

  • Germany’s DAX lost 0.24 percent, to 13,481;

  • France CAC 40 led the losses among the rivals, with a 0.30 percent decline, to 6,011;

  • Italy’s FTSE MIB eased slightly by 0.08 percent, to 24,458;

  • Spain’s IBEX 35 fell in price by 0.04 percent, to 9,807.

Resource-related stocks dragged down the Germany’s DAX index.

Meantime, Chinese stocks were resuming work after a lengthy holiday, with authorities raising some coronavirus-related limitation, as the death toll reached the number of more than 900, keeping thus overall sentiment nervous.

Recall, the pan-European STOXX 600 index had registered its strongest week for a period of three months due to bank sector strength after a batch of strong Q4 earnings reports.

Whitbread shares lost 2.654 percent on Monday after Peel Hunt reiterated their buy rating on company’s shares last week. The same thing happened to Halma shares, being down by 1.26 percent after JPMorgan Chase raised its price target. Infineon Technologie went down by 1.89 percent on Monday. Merck eased by 1.16 percent. Fiat Chrysler lost 1.02 percent.

Exor shares jump by 5.61 percent on the back of news about a possible deal with French insurer Covea Cooperations regarding its unit PartnerRe Ltd.

On the bright side of the Monday’s session were also shares of following companies: Nmc Healthcare Llc (+8.86), Smurfit Kappa Group (+3.23), ArcelorMittal (+2.31), Unipol Gruppo (+2.02), Buzzi Unicem (+1.85), Azimut Holding (+1.43), etc.

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