The German share price index DAX graph is pictured at the stock exchange in Frankfurt May 25, 2020. — Reuters picBRUSSELS, April 12 — European stocks eased from all-time highs today as investors held off from making big bets ahead of the earnings season, while British retailers reopened as the economy emerges from a strict winter lockdown.
Asian markets slid as investors waited to see if US earnings can justify sky-high valuations, while concerns about a surge in global Covid-19 cases also weighed. “Many people are aware that this reporting season is likely to be quite strong for manufacturing companies and much weaker for companies which have been affected by lockdown, the more serviced based businesses,” said Matt Siddle, portfolio manager for European equities at Fidelity International.