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European shares fall as fears of new virus wave grip investors

Published 06/22/2020, 03:22 PM
Updated 06/22/2020, 03:30 PM
© Reuters.
LHAG
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WDIG
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STOXX
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SXEP
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SX7P
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SXTP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 22 (Reuters) - European shares fell on Monday as signs
of a resurgence in coronavirus cases in Germany and elsewhere
unnerved investors who were hoping for a swift economic recovery
from the crisis.
The pan-European STOXX 600 index .STOXX slid 1% by 0710
GMT, with travel and leisure .SXTP , oil and gas .SXEP , and
bank stocks .SX7P leading losses.
The World Health Organization reported a record increase in
global coronavirus cases on Sunday, while Germany's COVID-19
reproduction rate jumped to 2.88, a rate showing infections are
rising above the level needed to contain the disease over the
longer term. Scandal-hit Wirecard WDIG.DE , which lost 72% in market
valuate over the past week, fell another 43.9% as it said a
quarter of its assets totalling 1.9 billion euros ($2.13
billion) that auditor EY had been unable to account for likely
did not exist and withdrew its earnings forecast. Lufthansa LHAG.DE dropped 6.7% amid a showdown between the
airline's biggest shareholder and the German government over the
terms of a 9-billion-euro bailout.

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