The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
European stock indices change a bit
On Monday, European stock indices changed a bit and in different directions, as market participants keep evaluating corporate news.
In addition, many traders worry about the possible escalation of the conflict in Syria. At the weekend, the forces of the international coalition delivered air strikes on facilities in this Middle Eastern country. Russia has condemned such actions, but hasn’t taken retaliatory measures yet.
The index of the leading enterprises of the region Stoxx Europe dropped by 0.07% hitting 378.92.
The British FTSE 100 headed south 0.24%. The French CAC 40 inched up by 0.05%, the German DAX lost by 0.12%. At the same time Spanish IBEX 35 and Italian FTSE MIB managed to grow respectively 0.11% and 0.19%.
The shares of Shire Plc soared by 1.1%. The Irish pharmaceutical company, specializing in the treatment of rare diseases, announced the sale of a unit for the development and production of oncological preparations of the French Servier SAS for up to $2.4 billion.
Meanwhile, the capitalization of the world's number one advertising company WPP Plc slumped by 4.3%. The director general of the company, Martin Sorrell, resigned having finished an investigation into allegations against him in connection with abuse of office, waste of company funds as well as improper conduct.
Prior to the appointment of the new CEO, Mr. Sorrell's duties will temporarily move to Roberto Quarte, the chairman of the board of directors of the company.
The price of securities developer Sage Group software declined 3.2% after Friday’s 8.2% sag, when the company steeply reduced its annual revenue estimate.
The value of Whitbread, the owner of the Costa Coffee chain, tacked on 6.6% on reports that Elliott Management had turned to be the owner of more than 6% of the company and it’s currently its largest shareholder.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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