European stocks hit near 1-week low on global worries

News Image

MG News | April 12, 2022 at 12:56 PM GMT+05:00

0:00

April 12, 2022: European shares on Tuesday fell to their lowest in nearly a week on growing worries about rising inflation, a surge in coronavirus infections in China and the fallout of the prolonged war in Ukraine.

The pan-European STOXX 600 index .STOXX fell 1.1% by 0713 GMT, echoing weakness in Asian shares, with banks .SX7P among the worst hit.

Germany's top lenders Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE slumped nearly 8% after an undisclosed investor sold stakes of more than 5%, a bookrunner said.

China-exposed luxury stocks such as LVMH LVMH.PA, Kering PRTP.PA and Hermes HRMS.PA dropped in the range of 1% and 2% as China faced its worst COVID-19 outbreak in two years.

Risk appetite was further dented as U.S. yields continued to surge ahead of inflation data that is expected to show consumer prices gained the most in four decades.

Among individual stocks, Italian defence group Leonardo LDOF.MI rose 3.1% as Deutsche Bank upgraded the stock to "buy" on expectations of higher defence spending in the company's main markets.

Reuters

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg