Selloff or Market Correction? Either Way, Here's What to Do Next!See Overvalued Stocks

Jump in Europe virus cases hits shares after sharp weekly rally

Published 13/11/2020, 09:12
Jump in Europe virus cases hits shares after sharp weekly rally
FCHI
-
EDF
-
STOXX
-
SXEP
-
SX7P
-
SXTP
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 13 (Reuters) - Europe's benchmark stock index fell on
Friday, setting up to end its second straight week of gains on a
glum note, as surging coronavirus cases compounded fears of the
damage to the bloc's economy in the coming winter months.
The pan-European STOXX 600 .STOXX was down 0.3% by 0805
GMT after jumping earlier this week on optimism around a working
COVID-19 vaccine. The index has gained about 12% in the past two
weeks, also buoyed by hopes of calmer global trade under U.S.
President-elect Joe Biden.
France's CAC 40 index .FCHI lost 0.1% as Prime Minister
Jean Castex said there would be no immediate easing of a second
COVID-19 lockdown, with the number of hospitalisations now
higher than at the peak of the first wave. The energy index .SXEP led declines, falling 1.4% with
banking .SX7P and travel stocks .SXTP also dropping more
than 0.8% in early trading.
In company news, French power group EDF EDF.PA fell 0.3%
after reporting a decline in third-quarter revenue as the
COVID-19 pandemic sapped electricity demand and weighed on
nuclear energy output in France.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.