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REFILE-European stocks slide again on pandemic fears

Published 02/27/2020, 04:58 PM
REFILE-European stocks slide again on pandemic fears
WPP
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STAN
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PUBP
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ABI
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STOXX
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SXTP
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(Corrects to say coronavirus global pandemic is looming in
paragraph four)
Feb 27 (Reuters) - European shares fell again on Thursday,
with travel stocks taking the biggest knock, as a jump in new
coronavirus cases outside of China deepened fears of a pandemic
that could dent global growth.
Multiple blue-chip companies issued profit warnings, with
Standard Chartered STAN.L tumbling 3.4% after the Asia-focused
bank said that a key earnings target would take longer to meet
as the epidemic adds to headwinds in its main markets of China
and Hong Kong. The world's largest beer maker, Anheuser-Busch InBev
ABI.BR , dropped 5.6% after forecasting muted growth in 2020
due in part to the outbreak. Governments ramped up measures to battle a looming global
pandemic as the number of infections outside China for the first
time surpassed those within the country. The pan-regional STOXX 600 index .STOXX fell 2.2% by 0817
GMT, bracing for its worst week since January 2016 when fears
about a slowing Chinese economy and a rout in oil prices sent
global markets in a tailspin.
Travel & leisure stocks .SXTP slumped 3.3%, its sixth
straight session of losses, as airlines and hotel groups dropped
on concerns over demand.
Weak earnings reports also dampened the mood. Advertising
major WPP WPP.L slid 13.6% after saying it would target flat
organic growth and profit margin in 2020. Shares in rival
Publicis Groupe SA PUBP.PA fell 3.3%

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