Europe: Stocks near one-month low as German consumer morale weakens
[BENGALURU] European stocks hit their lowest level in almost a month on Thursday, as a fall in German consumer morale, worries about soaring coronavirus cases and a US stimulus impasse weighed on sentiment.
The German DAX fell 1.3 per cent, lagging its European peers, as a survey showed consumer morale in Europe's largest economy dropped heading into November as fears about a second coronavirus wave made Germans less willing to open their wallets.
The pan-European Stoxx 600 slipped 0.9 per cent by 7.08am GMT, in its fourth session of losses.
Europe has seen Covid-19 cases climb to a record high, with Spain becoming the first Western European country to exceed one million infections and Italy setting a record increase in daily cases.
Earnings remained a bright spot. Unilever, rose 0.7 per cent after the company reported a stronger-than-expected return to quarterly sales growth, led by emerging markets.
French spirits maker Pernod Ricard also gained 1 per cent after saying that sales would return to growth in the second half of its 2020/2021 fiscal year.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard