European shares enter fourth day of declines, energy firms drag

MG News | July 10, 2020 at 12:44 PM GMT+05:00

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July 10, 2020: European shares extended losses for a fourth straight session on Friday on worries that an economic recovery may fizzle out as coronavirus cases continue to rise globally.

The pan-European STOXX 600 index slipped 0.4% by 0714 GMT, with energy firms sliding 1.4% as oil prices fell on worries of fuel demand.

Other growth-sensitive sectors such as miners, insurers and banks fell between 0.8% and 1%.

The STOXX 600 was headed for a small weekly loss as an early bump from a rally in Chinese equities was offset by fears of more business shutdowns, particularly in the United States where more than 60,500 new COVID-19 infections were reported on Thursday.

Among individual movers, Swiss duty free operator Dufry fell 5.3% after announcing cuts to personnel expenses by 20% to 30% this year as it tackles a plunge in sales caused by the pandemic.

German genetic testing firm Qiagen rose 3.1% after it reported a 68% rise in quarterly earnings amid strong demand for products used in coronavirus testing.

Reuters

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KSE30	41,552.62 97.27M	1.81% 738.33
KMI30	193,330.76 84.69M	0.39% 741.60
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	121,835.00	123,615.00 118,675.00	3305.00 2.79%
BRENT CRUDE	71.18	71.53 70.35	0.82 1.17%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.25 0.26%
ROTTERDAM COAL MONTHLY	108.75	0.00 0.00	0.05 0.05%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	69.30	69.65 68.41	0.85 1.24%
SUGAR #11 WORLD	16.52	16.67 16.49	-0.05 -0.30%