European shares fell today 22/6/2020 as signs of a resurgence in coronavirus cases in Germany and elsewhere unnerved investors who were hoping for a swift economic recovery from the crisis.

 

The pan-European STOXX 600 index slid 1% by 0710 GMT, with travel and leisure, oil and gas, and bank stocks leading losses.

The World Health Organization reported a record increase in global coronavirus cases on Sunday, while Germany’s COVID-19 reproduction rate jumped to 2.88, a rate showing infections are rising above the level needed to contain the disease over the longer term.

Scandal-hit Wirecard, which lost 72% in market valuate over the past week, fell another 43.9% as it said a quarter of its assets totalling 1.9 billion euros ($2.13 billion) that auditor EY had been unable to account for likely did not exist and withdrew its earnings forecast.

Lufthansa dropped 6.7% amid a showdown between the airline’s biggest shareholder and the German government over the terms of a 9-billion-euro bailout.

Source: https://www.reuters.com/article/europe-stocks/european-shares-fall-as-fears-of-new-virus-wave-grip-investors-idUSL4N2DZ1G1

We are ready to offer high return on investment

Get in touch

H - High Quality
A - Accuracy
L - Leadership
D - Differentiation
I - Integrity
V - Value 
O - Objectives
R - Responsibility