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European markets falls on second wave fears
15 Jun 2020

European markets falls

As concerns over a fresh cluster of coronavirus cases in Asia and the U.S. continue to spread, European markets ended in the red on Monday.

The Stoxx Europe 600 recovered some lost ground earlier but still finished around 0.2% lower. Germany’s DAX fell around 0.3%, France’s CAC 40 ended the day provisionally 0.4% lower, and the U.K.’s FTSE 100 closed down around 0.8%.

Asian stocks traded lower Monday and U.S. stocks fell in morning trade on Monday. While European markets followed their Asian counterparts lower as concerns over a resurgence of coronavirus cases dominate market sentiment.

Pullback occurs after states in the reopening process including Alabama, California, Florida, and North Carolina reported a rise in daily new coronavirus cases.

Meanwhile, Texas and North Carolina reported a record number of virus-related hospitalizations Saturday.

After a new coronavirus outbreak took place at Beijing wholesale food market, China is also subject to concern about a second wave.

Meanwhile, protests against racism and police violence, that started following the death of George Floyd in police custody in Minneapolis last month, rolled on in the U.S. and Europe.

In terms of individual share price moves, Danish insurer Tryg fell 8.5% to the bottom of the Stoxx 600, while Belgian scientific research firm UCB climbed 14.9%.

 

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