Europe stocks slide at open; London hit by GDP shock

Jun 12, 2020: European stock markets sank further at the open on Friday, with London hit by news that the UK economy collapsed in April due to the coronavirus lockdown.

In initial deals, London's benchmark FTSE 100 index of blue-chip companies slid 0.9 percent to 6,019.49 points, after official data showed the British economy shrank by a record 20.4 percent in April from March.

In the eurozone, Frankfurt's DAX 30 index fell 0.6 percent to 11,903.87 points and the Paris CAC 40 lost 0.5 percent to 4,790.74.

Europe's indices had already tumbled Thursday on virus concerns, with Frankfurt down 4.5 percent, London losing 4.0 percent and Paris sinking 4.7 percent.

World stock markets dived as investors worried about a possible second coronavirus wave in the US and the Federal Reserve warned of a “highly uncertain” economic outlook because of the pandemic.


Posted on: 2020-06-12T13:06:00+05:00