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European shares fall as virus fears outweigh stimulus

Published 18/03/2020, 09:11
Updated 18/03/2020, 09:12
© Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 18 (Reuters) - European shares tumbled on Wednesday as
fears over the relentless global spread of the coronavirus
overshadowed sweeping U.S. stimulus measures to support
businesses and contain the economic damage from the pandemic.
The pan-European STOXX 600 index .STOXX was down 1.9% at
0804 GMT, with bourses in London .FTSE and Germany .GDAXI
leading declines.
The benchmark index had closed up more than 2% on Tuesday as
Spain announced a bumper stimulus plan to combat the economic
shock of the coronavirus, but global equities fell again on
Wednesday as concerns over the virus' impact on corporate
finances returned to the forefront.
JP Morgan analysts said on Wednesday the crushing blow to
the airline industry from a virtual halt in global travel would
trickle down to the European civil aerospace, sending shares of
MTU Aero Engines MTXGn.DE plunging 15%.

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