European stocks extended losses on Thursday to hover a near one-month low amid worries that new variants of the coronavirus would prolong global economic recovery.
Risk sentiment was also dented by deepening concerns about stretched valuations in equity markets.
The pan European Stoxx 600 fell over 2 percent to 394.89 after declining 1.2 percent on Wednesday. The German DAX tumbled 2.1 percent, France’s CAC 40 index was down 1.3 percent and the U.K.’s FTSE 100 dropped 1.6 percent.
Swiss watchmaker Swatch Group lost 3.3 percent after reporting its first annual loss in nearly 40 years.
Diageo rallied 3.6 percent after the world’s largest spirits maker reported a surprise rise in underlying net sales growth in the first half of the year and said it expects to see improvement in sales and profit in the second half of its fiscal year.
Gambling company Rank Group dropped 1.4 percent after it swung to a loss for the first half of fiscal 2021.
Mining giant Rio Tinto lost 2 percent after unveiling a new executive team.
EasyJet was moving down 1.8 percent. The budget airline said it was hoping for surge in passenger numbers later this year if Covid restrictions ease.
BMW AG shares fell 3.8 percent. The automaker said that preliminary automotive free cash flow for the fourth quarter and the full year 2020 was above market expectations.
Business News
European Shares Extend Losses On Growth Concerns
2021-01-28 09:52:08
