Europe: Stocks back in red as virus spread feeds recession fears

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Europe: Stocks back in red as virus spread feeds recession fears
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Europe: Stocks back in red as coronavirus spread feeds recession fears

  • 📰 BusinessTimes
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Travel and leisure stocks continued to underperform their peers as more countries closed their borders and limited domestic movement.

Greece joined France and Spain in announcing a nationwide lockdown, while Italy banned even domestic travel as the number of fatalities there topped 6,000. German shares shrugged off a 750 billion euro stimulus package from Berlin, closing about 2 per cent lower as major car makers face a dual hurdle of production curbs and flatlining demand.

Nestle SA, the largest stock on the Stoxx 600, dropped 6 per cent for the day as its chief executive told employees to prepare for a"coronavirus storm", an internal memo showed.

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BusinessTimes /  🏆 15. in PT
 

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