European shares slip on weak earnings, China virus epidemic


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European shares slip on weak earnings, China virus epidemic

On Thursday, the 30th of January 2020, a slew of European shares fell across the board following release of a bundle of disappointing earnings’ updates, while investors’ frets over economic impacts of a virus epidemic in China which killed 206 people so far had added to further strains.

Following Thursday’s (January 2020) tattering, the regional pan-European STOXX 600 dropped 0.8 per cent and had been on course to score its worst week in roughly four months, while London-listed Royal Dutch Shell had been the worst backlash with a slip of as much as 4.3 per cent.

Meanwhile, referring to the nerve-wracking impacts of coronavirus death tolls, a head of European equities strategies at AXA investment Managers, Gilles Guibout, said on Thursday’s (January 30th) European market wrap up, “At this stage as the number of cases are growing, (the selloff) is just a normal reaction in (anticipation) for what could be the final impact.

Could the coronavirus be a black swan? Yes, maybe for the (companies) most exposed to the China segment. ” Citing statistics, on Thursday’s (January 30th) market wind down, London’s FTSE 100 faltered 1.70 per cent to 7,361.21, Frankfurt’s DAX dwindled 1 per cent to 13,196.05, while French CAC 40 slipped 1.31 per cent to 5,870.73.

Elsewhere in the Europe, Madrid’s benchmark IBEX 35 shed 0.54 per cent to 9,474, while Italy’s FTSE MIB fell by 1 per cent to 23,829.06. On top of that, during preparation of the report, at early European trading hours, almost all of the major European bourses opened up the day more than 1 per cent lower as WHO (World Health Organization) had declared China's Wuhan Coronavirus outbreak a global public health emergency.