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Faltering PMIs add to a lacklustre week for European stocks | Malay Mail

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NEW YORK, Aug 22 — Downbeat economic data that pointed to a stalling of the euro zone recovery hit regional stock markets yesterday, with the pan-European STOXX 600 index marking weekly losses as coronavirus cases rose across the continent. The German DAX reversed early gains to trade 0.5 per...

The German DAX reversed early gains to trade 0.5 per cent lower after Purchasing Managers Index surveys showed service sector activity unexpectedly came to a near standstill in August, although factory activity rebounded further. — Reuters pic

Paris-listed shares fell 0.3 per cent after a worse showing from the French survey, while euro zone blue chips were down 0.4 per cent. The STOXX 600 recorded a 0.9 per cent loss for the week, with growth-linked cyclical sectors such as banks, oil & gas firms and automakers hit hard as several European countries saw a resurgence in coronavirus cases that raised fears of more restrictions on business activity.

 

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