Home Markets Eurozone shocks – 1.4% down on Stoxx 600

Eurozone shocks – 1.4% down on Stoxx 600

Eurozone shocks – 1.4% down on Stoxx 600


Significant losses on major European stock markets on Monday, with the spread of the Omicron mutation forcing many countries to reintroduce strict measures to tackle the spread of the virus, raising concerns about a slowdown in the economic recovery. At the same time, the travel industry is being hit hard by travel restrictions and new lockdowns.

In particular, as of Sunday, the Netherlands is in lockdown mode. Prime Minister Mark Rutte announced the closure of unnecessary shops as well as restaurants, hairdressers, gyms, museums and other public spaces by at least January 14th.

From today, only German citizens, permanent residents and transit passengers will be allowed to enter Germany from the UK, while all incoming travelers will have to be quarantined for 14 days, regardless of vaccination. Travel restrictions were also imposed on arrivals from Denmark, Norway and France.

From today, Austria will also allow entry to the country only to travelers who have been vaccinated.

“With new coronavirus cases hitting record highs in the UK in recent days and new restrictions being applied across Europe, the picture looks like a repeat of a year ago, with some scientists in the UK calling for a new lockdown. before Christmas, in a move that seems to be finding enough support, “said Michael Hewson, an analyst at CMC Markets.

In this climate, the pan-European index Stoxx 600 loses 1.37% to 467 points, while earlier it was found to decline up to 2.3%. The travel and leisure sector slipped by 2.4%, recording the largest losses.

In the individual dashboard, the German DAX loses 1.68% to 15,270 points, the French CAC 40 slips by 1.03% to 6,855 points, while the British FTSE 100 records losses of 1.07% at 7,190 points.

On the periphery, the Italian FTSE MIB loses 1.84% to 26,120 points, while the Spanish IBEX 35 falls 1.25% to 8,210 points.

In the individual shares, the Belgian biotechnology company Argenx jumps more than 8% after the approval of a landmark drug of the company by the American Food and Drug Administration (FDA).

On the other hand, the Danish pharmaceutical company Novo Nordisk is losing more than 10%, after it announced on Friday that it will not be able to meet the demand for its new drug for weight loss amid problems in the supply chain in the USA.

Significant losses are recorded today and the stock exchanges of the Asia-Pacific region. In mainland China, Shanghai Composite fell 0.75% and Shenzen lost 1.365%. The Hang Seng Index in Hong Kong is slipping by 1.44%. In Japan, the Nikkei 225 index recorded the largest losses in the region – over 2.1% – while the Topix index lost 2%.

The slump continues for the futures of the Wall at the beginning of the week. Specifically, the Dow Jones futures slipped above 500 points or 1.63%, the S&P 500 futures fell by 1.6% or 74 points, while the Nasdaq futures lost 1.62% or 253 points.




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