News Formal

Europe: Shares fall from 7-week peak on ECB, earnings upset

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

[BENGALURU] European shares fell from seven-week highs on Thursday after the European Central Bank held back on big policy moves despite mounting evidence of the damage being wrought on the euro zone economy by the coronavirus crisis. Read more at The Business Times.

The banking sector also came under pressure from a 8.6 per cent decline in France's Societe Generale as it reported a quarterly loss, while Britain's Lloyds Banking Group became the latest to be hit by provisions against expected bad loans due to the pandemic.

A preliminary reading showed economic activity in the bloc contracted at a record rate in the first quarter and inflation slowed sharply due to coronavirus-induced lockdowns. Economists expect even worse numbers for the second quarter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Europe: Stocks jump at open on virus treatment hope[LONDON] Europe's major equity indices rallied at the open on Thursday, as global investor sentiment was boosted by news of a possible breakthrough in testing for a coronavirus treatment. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »