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Europe: Stocks hit one-month low as virus fears dominate

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[BENGALURU] European stocks extended losses on Tuesday as worries about the economic fallout of tighter coronavirus restrictions on the continent overshadowed some better-than-expected earnings reports. Read more at The Business Times.

German Chancellor Angela Merkel is planning a"lockdown light" in Europe's largest economy that would mainly focus on the closure of bars and restaurants to slow down a second wave of infections, newspaper Bild reported.

But shares in oil major BP fell 2.1 per cent. The company swung back to a small profit in the third quarter, but also warned of pandemic-related uncertainties. Europe's oil and gas sector index touched its lowest level in seven months. Spain's IBEX index fell 2.1 per cent, also on worries about the economic impact of coronavirus-related curbs.Out of the 27 per cent of the Stoxx 600 companies that have reported so far, 73 per cent have beat profit expectations, according to Refinitiv data.

 

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