Banco Santander leads European shares’ rally, but coronavirus worries linger

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Banco Santander leads European shares’ rally, but coronavirus worries linger

On Wednesday, the 29th of January 2020, a basket of European bourses wrapped up the day higher, mostly reignited by the upscaled momentums of Banco Santander, the Spanish multinational commercial financial behemoth, and Safran, the French aerospace and defence company, while a majority of the investors’ seemed to be holding their horses amid growing uncertainty over potential impacts of a fast-spreading coronavirus.

On top of that, Wednesday’s (January 29th) European stock indices’ outlook worsened further following analysts’ prediction that China coronavirus outbreak would curb out as little as 1 per cent of the central Asian nation’s economic outlook, while adding further strains, US Fed had also echoed the tones of aforementioned analysts and Fed’s Powell was quoted saying that China epidemic’s financial impact would likely to cast shadows on US economy as well.

Nonetheless, following robust rises of Safran and Banco Santander with the latter gaining as much as 4.4 per cent, European bourses managed to wind down the day in an affirmative territory following a recovery on Tuesday (January 28th).

Meanwhile, referring to a growing uncertainty circulating around the European bourses, an analyst at British financial spread better Spreadex, Connor Campbell said on Tuesday’s (January 28th) European market closure, “You’ve got the tension between what investors would like to do - keep pouring into equities, there is a great appetite to keep pushing these indices higher - but there keeps being these big global problems that keep forcing investors to have to question and justify a rebound when there is no reason to do so.

” Quoting statistics, on Wednesday’s (January 30th) European market round off, London’s FTSE 100 added 0.04 per cent to 7,483.57, Frankfurt’s DAX gained 0.16 per cent to 13,345.00, while French CAC 40 surged 0.49 per cent to 5,954.89.

Elsewhere in the Europe, Madrid’s benchmark IBEX 35 shoots up 0.66 per cent to 9,546.70, while Italy’s FTSE MIB soared 0.57 per cent to 24,164.73 on Wednesday’s (January 29th) market wrap-up.