European stocks slide at open

News Image

MG News | May 04, 2020 at 01:22 PM GMT+05:00

0:00

May 04, 2020: Europe's stock markets sank at the open on Monday on simmering two superpowers tensions, with Frankfurt and Paris falling far more sharply than London after a long holiday weekend.

                  Asia also suffered steep losses, tracking heavy pre-weekend falls on Wall Street after US President Donald Trump sparked fears of a renewed trade war with China over its role in the coronavirus pandemic.

                  In initial European trade, Frankfurt's benchmark DAX index fell 2.8 percent to 10,557.23 points and the Paris CAC 40 shed 3.4 percent to 4,416.50, compared with the closing levels on Thursday.

                  Outside the eurozone, London's FTSE 100 index lost almost 0.6 percent to 5,730.60 points compared with the closing level on Friday.

                  "Risk sentiment is very fragile as we enter another critical week in terms of economic and corporate data. Tail risks are rising and Donald Trump's attacks on China are really not helping," Swissquote Bank analyst Ipek Ozkardeskaya told AFP.

                  "Equities in Europe opened sharply lower, as expected. Losses in the FTSE were less than the rest of the European continent, but the investor mood points at further losses throughout the session," she added.

                  Trump had suggested he could lump new tariffs on China over its handling of the virus outbreak, claiming he had seen evidence linking a Wuhan lab to the contagion.

                  The warning fanned worries of a return to the trade standoff between the world's top two economies that battered global markets last year until a partial agreement was reached in December.

AFP/APP

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