European shares enter fourth day of declines, energy firms drag

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

0:00

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

Related News

Name	Price/Vol	%Chg/NChg
KSE100	139,266.13 249.16M	0.62% 853.88
ALLSHR	86,215.45 490.67M	0.60% 512.49
KSE30	42,563.48 101.64M	0.73% 308.64
KMI30	196,374.14 103.74M	1.17% 2264.55
KMIALLSHR	57,190.14 211.14M	0.84% 476.47
BKTi	37,794.31 19.03M	-0.10% -37.03
OGTi	28,172.68 41.35M	2.67% 732.05

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	119,355.00	119,785.00 117,905.00	1735.00 1.48%
BRENT CRUDE	72.02	72.82 72.00	-0.45 -0.62%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	69.64	70.41 69.62	-0.36 -0.51%
SUGAR #11 WORLD	16.39	16.52 16.38	-0.06 -0.36%