European stocks decline as Corona casualties increase


European shares opened lower today (Wednesday), as banks and energy companies led the decline with the increase in cases of Coronavirus around the world, which weakens the possibility of a rapid economic recovery.

European stock index Stoxx 600 fell 0.5 percent by 07:14 GMT. Banks and energy companies fell more than 1 percent.

HSBC Bank, listed in London, fell 3.5 percent after a report said senior US chief advisors were considering proposals to undermine the Hong Kong dollar peg. The proposal would likely limit Hong Kong’s ability to buy dollars.

Sentiment on Wall Street was damaged yesterday, with Corona virus infection in the United States exceeding three million confirmed cases yesterday (Tuesday), while the World Health Organization acknowledged the emergence of “evidence” that the virus could spread through the air.

Finnish Nokia shares fell 6.7 percent after JP Morgan downgraded its stock to “neutral”, amid signs that it might lose activities with US telecom operator Verizon.

European home appliance Electrolux jumped 5.1 percent after it announced it would announce lower-than-expected losses in the second quarter, thanks to sales growth in June and cost-cutting measures.


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