European stocks tumble on concerns over recovery

MG News | June 25, 2020 at 12:47 PM GMT+05:00

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June 25, 2020: European shares fell again on Thursday on dimming prospects for a recovery in the global economy, but shares in Lufthansa soared after a major shareholder agreed to endorse a 9-billion-euro state bailout.

The pan-European STOXX 600 fell 1.1% by 0717 GMT, led lower by travel & leisure, bank and oil & gas stocks.

A surge in the number of coronavirus cases globally, prospects of a fresh trade tussle between the United States and the European Union and worrying forecast for global economy this year pushed the STOXX 600 to its lowest since June 15.

Among gainers, Lufthansa rose 11% after billionaire Heinz Hermann Thiele, who owns a 15.5% stake, told a local newspaper he would endorse the rescue.

Bayer AG inched 0.3% higher after it agreed to pay as much as $10.9 billion to settle U.S. lawsuits claiming that its widely used weedkiller Roundup caused cancer.

Reuters

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KSE100	163,576.93 88.48M	0.42% 680.25
ALLSHR	98,855.87 204.59M	0.41% 406.18
KSE30	48,887.32 54.58M	0.41% 199.86
KMI30	235,124.46 50.77M	0.55% 1275.14
KMIALLSHR	64,429.79 102.01M	0.60% 381.70
BKTi	44,513.69 16.86M	0.38% 166.62
OGTi	34,737.54 3.67M	0.91% 314.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,415.00	77,530.00 76,465.00	580.00 0.75%
BRENT CRUDE	110.05	111.49 109.56	-1.23 -1.11%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-7.75 -6.58%
ROTTERDAM COAL MONTHLY	111.50	111.50 111.50	0.90 0.81%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	103.00	104.45 102.50	-1.15 -1.10%
SUGAR #11 WORLD	14.98	15.10 14.95	-0.03 -0.20%