Travel stocks drag Europe lower after UK’s quarantine move on Spain | Malay Mail

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LONDON, July 28 — European shares slipped yesterday with travel stocks leading the declines after Britain imposed a two-week quarantine on travellers returning from Spain after a surge in coronavirus cases. The pan-European STOXX 600 closed down 0.3 per cent, extending declines after it recorded...

Tuesday, 28 Jul 2020 08:45 AM MYT

The pan-European STOXX 600 closed down 0.3 per cent, extending declines after it recorded its first weekly fall in four on Friday. Adding to the sector’s woes, Ireland’s Ryanair cut its annual passenger target by a quarter and warned a second wave of Covid-19 infections could lower that further. “There’s always been this concern when lockdown measures were released that we would have a resurgence in cases and reimposition of social restrictions,” said Alastair George, head strategist at Edison Investment Research.

Still, concerns over a resurgence in coronaviurs cases overshadowed an Ifo Institute survey that showed German business morale improved further in July after posting a record increase in June.

 

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