PARIS (Reuters) – Major European stocks fell moderately in early trading on Monday, as concerns over the novel coronavirus (COVID-19) outbreak kept market participants on the sidelines.
The CAC 40 index in Paris lost 0.24%, 6,628.46 points, around 08:30 GMT. London advances, the FTSE 100 cde 0.37% and Frankfurt, the DAX 0.37%.
The EuroStoxx 50 Index decreased by 0.33%, the FTSEurofirst 300 Index by 0.19%, and the Stoxx 600 Index by 0.2%.
Several major Chinese cities recorded another increase in COVID-19 cases, prompting local authorities to impose new health restrictions, including in Beijing where residents of the most populous region are prohibited from leaving their homes.
At the beginning of the week, three people died of the disease in the capital, while China has not recorded any deaths since the end of May.
This information undermines hopes for a rapid easing of the government’s anti-COVID strategy and fuels fears of a global recession.
On that front, the release of minutes from the Federal Reserve’s latest meeting on Wednesday may shed more light on the level to which officials plan to raise interest rates.
The sectors most affected by the decline in Europe are raw materials (-1.81%), transport and leisure (-0.7%).
In terms of values, ArcelorMittal lost 1.99%. Valoric
It decreased by 9.61% despite higher results in the third quarter.
Compass fell 3.38% even though the world’s number one catering company expects its profits to grow by more than 20% in 2023 after it reported an increase in profits in fiscal 2022.