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European shares dip as virus fears intensify

Published 03/30/2020, 03:20 PM
Updated 03/30/2020, 03:30 PM
© Reuters.
INGA
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ABBN
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CRDI
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STOXX
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SXEP
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SX7P
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SXNP
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SXTP
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ABNd
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 30 (Reuters) - European shares fell for the second
straight session on Monday, as fears about the economic hit from
the coronavirus pandemic intensified with several nations
extending near-total lockdowns to curtail the spread of the
flu-like disease.
The pan-European STOXX 600 index .STOXX was down 0.8% at
0714 GMT, with energy .SXEP , industrials .SXNP and travel
and leisure .SXTP stocks leading declines.
The banking sector .SX7P tumbled another 2.5%, bringing
its monthly losses to more than 28%, with UniCredit CRDI.MI ,
ING INGA.AS and ABN Amro ABNd.AS among the first set of
lenders to comply with the ECB's appeal to freeze dividends in a
bid to shore up credit. In fresh signs of the business impact from the outbreak,
Swiss engineering group ABB ABBN.S fell 5.7% after issuing a
profit warning and saying all of its businesses would suffer in
the first quarter.

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