- European shares fell for the first time in three sessions on Thursday on a slate of disappointing earnings updates, with investors also fretting over the economic impact of a virus epidemic in China that has now claimed 170 lives.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 29, 2020. REUTERS/StaffLondon-listed shares of Royal Dutch Shell were the biggest drag on the benchmark index, shedding 4.3% after the company’s quarterly profit halved. The wider energy subsector .SXEP fell 2.4%, also pressured by lower oil prices.
Global financial markets have seen a sharp sell-off this week as a jump in reported cases of people infected with the flu-like coronavirus raised fears of a pandemic and sparked concerns about an economic slowdown in the world’s second-biggest economy. [MKTS/GLOB] The World Health Organization’s Emergency Committee is due to reconvene on Thursday to decide whether the virus constitutes a global emergency.
“At this stage as the number of cases are growing, is just a normal reaction in for what could be the final impact,” said Gilles Guibout, head of European equities strategies at AXA Investment Managers.European miners .SXPP slid 0.7% on Thursday on growth concerns in the world’s top metals consumer.
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