European shares steady as selling pressure eases

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXNPEG1O0MA_L.jpg

(Reuters) – European shares bounced back on Tuesday after recording their worst losses since June 2016 in the previous session, with investors assessing the economic hit of a coronavirus outbreak that has spread far beyond China.

Markets across the globe attempted to stabilize, with the pan-European STOXX 600 index () rising 0.6%.

After a 5.4% tumble on Monday, Milan-listed shares () rose 0.6%. Italy is struggling with the worst flare-up of coronavirus cases in Europe, with 220 cases reported and seven dead.

Airline stocks, which took the biggest hit on Monday, edged higher. Lufthansa (DE:), EasyJet (L:) and Ryanair (I:) rose between 0.6% and 1.4%.

Prudential Plc (L:) rose 2.9% after hedge fund Third Point LLC amassed a more than $2 billion stake and called on the British insurer to split into two companies.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment