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European stocks struggle as virus worries weigh on fragile recovery

Published 09/18/2020, 03:20 PM
Updated 09/18/2020, 03:30 PM
© Reuters.
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 18 (Reuters) - European stocks struggled for momentum
in early deals on Friday, with a resurgence in coronavirus cases
across the continent raising concerns about its impact on a
nascent economic recovery.
The pan-European STOXX 600 index .STOXX slipped 0.1% by
0708 GMT, with travel & leisure stocks .SXTP leading the
losses with a 1% decline.
Market sentiment remained shaky as France registered a
record 10,593 new confirmed coronavirus on Thursday, the highest
single-day count since the pandemic began, while the United
Kingdom also saw a surge in cases. A spree of dealmaking drove activity in individual stocks.
Spain's state-owned Bankia BKIA.MC slipped 2% after Caixabank
CABK.MC valued it at 4.3 billion euros ($5.10 billion) as part
of a deal that will create Spain's biggest domestic bank.
Euronext ENX.PA jumped 3.4% after London Stock Exchange
LSE.L said it had entered into exclusive talks to sell Borsa
Italian to the French exchange operator. Germany's Covestro 1COV.DE gained 5.8% after Bloomberg
reported private equity firm Apollo Global Management APO.N
was exploring a takeover of the plastics maker.

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