Investors were already rattled after the British central bank sent a stark warning on Thursday that Britain risks a double-whammy of a recession and inflation above 10 per cent.slid 6.9 per cent and 2.9 per cent, respectively after the real estate firms said they were in advanced talks on a merger that would bring such London tourist destinations as Covent Garden and Soho under one umbrella.The pan-European Stoxx 600 index was down 15.6 per cent since hitting an all-time high in January.
Adding to the gloom, investor morale in the euro zone fell in May to its lowest level since June 2020 as the impact of the war inon Europe’s largest economy becomes increasingly clear. Of the nearly 60 per cent of European companies that have reported results so far, 72 per cent have topped analysts’ profit estimates, as per Refintiv IBES data.In a typical quarter, 52 per cent beat estimates.