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European stocks slide on concerns over new virus wave

Published 23/03/2021, 09:19
© Reuters.
DE40
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EZJ
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VOLVb
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ICAG
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TUIT
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 23 (Reuters) - European stocks retreated from a
one-year peak on Tuesday, as a new wave of coronavirus infection
and fresh lockdown in Germany raised fears of a slow economic
recovery from the pandemic shock.
The pan-European STOXX 600 index .STOXX fell 0.7% after a
new round of sanctions aimed at China hit Asian markets.
MKTS/GLOB
The German DAX .GDAXI dropped 0.8% after Chancellor Angela
Merkel announced on Tuesday the extension of lockdown until
April 18 and called on citizens to stay at home for five days
over the Easter holidays. The tally of new COVID-19 cases in France also accelerated
despite the start of a third lockdown, while Austria postponed
the reopening of cafe and restaurants. Travel & leisure .SXTP fell again, with British
Airways-owner IAG ICAG.L , easyJet EZJ.L and travel company
TUI TUIT.L down between 2% and 3%.
British Health minister Matt Hancock said fines of 5,000
pounds ($6,900) will be introduced for people from England who
try to travel abroad before the end of June.
Swedish truckmaker Volvo VOLVb.ST slumped 7.1% after it
warned that a shortage of semiconductors would have a
substantial impact on production in the second quarter.

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