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?
Key EU indexes tack on
On Monday, European markets ascended amid corporate news about potential mergers as well as acquisitions.
The European index Stoxx 600 went up by 0.5% during the morning trading session, with all sectors as well as large exchanges concluding up.
Equities of energy companies in the European Union spearheaded surge, adding 2%. Severn Trent, Italgas and Iberdrola turned out the best performers in the sector, demonstrating a 3% leap.
At the same time the regional banking index attracted tons of attention after a week of political downtime in Spain and Italy. EU financial institutions soared 1% after the Financial Times informed that the French bank Societe Generale as well as the Italian rival Unicredit are considering the likelihood of a merger.
As for individual equities, the French airline Air France KLM got to the top of the EU index after on Sunday AccorHotels told that it’s considering purchasing a stake in the company. As AccorHotels informed, it earlier conducted talks with Air France on the likelihood of developing joint projects. As a matter of fact, Air France's shares went up over 7%, while AccorHotel dived to the bottom of the index- declining nearly 6%.
In Great Britian, on Sunday, Clydesdale and Yorkshire Bank told that it raised its offer to purchase a competing financial institution Virgin Money. Apparently, the given deal will generate the sixth largest lender in Great Britain.
Moreover, among the member states of the European block, in Slovenia preliminary results disclosed that the anti-immigration party managed to win the parliamentary elections that took place on Sunday.
Angela Merkel, German Chancellor commented on the situation in the EU in a recent interview, which showed up on Sunday. So, the key German statesman backed the call of Emmanuel Macron, its French colleague to solidarity within the EU.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
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The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
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