Stock market is bleeding: what do you need to know
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?
UK homebuilders and miners back FTSE
On Wednesday, European stocks went down in early deals, suppressed by healthcare as well as utilities stocks, although positive results from a British housebuilder as well as support from mining companies helped to limit losses.
The pan-European STOXX 600 index decreased 0.3%, extending losses from last session. Meanwhile, blue chips decreased 0.3%.
British housebuilder Persimmon happened to be the biggest STOXX gainer, leaping approximately 3.4% following a positive trading statement, in which it posted a 7% soar in first-half sales with the market generally immune to Britain’s June general election.
Shares in peer Barratt Developments gained up to 2.4%, while The UK’s blue chip FTSE 100 that managed to outperform the broader European market, soared 0.1%.
Revenues among mining companies, including Glencore that leapt 2.6% also helped to back British shares.
Healthcare shares dived, suppressed by GlaxoSmithKline that sank after a downgrade from Citigroup from buy to neutral.
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What is pulling the stocks down?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Important events on February 17-21
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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