European bourses end flat, Dublin battered after Irish election

by   |  VIEW 185
European bourses end flat, Dublin battered after Irish election

On Monday, the 10th of February 2020, as a handful of European investors were bracing for potential impacts from the financial fallouts of China’s coronavirus epidemic which was taking a heavy toll on Europe’s luxury goods, losses were largely offset by a number of upbeat deal talks alongside a robust support from the defensives such as non-cyclical goods’ stocks, healthcare and real estates.

Apart from that, Dublin was hit with a heavy header of 1.2 per cent following a strong outcome for the far-left Sinn Fein in Ireland’s general election. Nonetheless, despite a growing number of odds, the regional pan-European index wrapped up the day 0.07 per cent after scoring its best weekly gain in three months last week.

Meanwhile, referring to an intricated web of withering outlooks in Dublin in terms of government formation and economic policies in the bloc’s economic HubSpot following Britain’s departure, a senior economist at ING, Bert Colijn said on Monday’s (February 10th) European market wrap-up, “Sinn Fein proposals on the economy are less conservative – especially on housing market issues - than those of Fine Gael and Fianna Fáil, but how this election will change Irish economic policies remains a big question mark given the difficulty of government formation.

” Citing statistics, on Monday’s (February 10th) European market closure, London’s FTSE 100 faltered 0.27 per cent to 7,446.88, French CAC 40 dropped 0.23 per cent to 6,015.67, while Frankfurt’s DAX shed 0.15 per cent to wrap up the day at 13,494.03.

Elsewhere in the Europe, the Swiss Stock Market index gained 0.35 per cent to 11,039.78, Madrid’s benchmark IBEX 35 ended the day flatlined at 9,804.50, while Italy’s FTSE MIB rounded off Monday’s (February 10th) market 0.14 per cent lower to 24,517.58.