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European stocks near 1-month low as German consumer morale weakens

Published 22/10/2020, 08:17
© Reuters.
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Oct 22 (Reuters) - European stocks hit their lowest level in
almost a month on Thursday, as a fall in German consumer morale,
worries about soaring coronavirus cases and a U.S. stimulus
impasse weighed on sentiment.
The German DAX .GDAXI fell 1.3%, lagging its European
peers, as a survey showed consumer morale in Europe's largest
economy dropped heading into November as fears about a second
coronavirus wave made Germans less willing to open their
wallets. The pan-European STOXX 600 .STOXX slipped 0.9% by 0708
GMT, in its fourth session of losses.
Europe has seen COVID-19 cases climb to a record high, with
Spain becoming the first Western European country to exceed 1
million infections and Italy setting a record increase in daily
cases. Earnings remained a bright spot. Unilever ULVR.L , UNA.AS
rose 0.7% after the company reported a stronger-than-expected
return to quarterly sales growth, led by emerging markets.
French spirits maker Pernod Ricard PERP.PA also gained
1.0% after saying that sales would return to growth in the
second half of its 2020/2021 fiscal year.

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