Delta Despair Ejects European Euphoria

The red sea has fallen on European stocks market New concerns about the spread of delta variants have wiped out the euphoria of major European stock exchanges. The German, French and UK benchmarks have been reduced by about 2%, while the Stoxx600 and SMI20 have slightly less reductions and better results. Travel and leisure stocks have been blamed for fear of fatigue in the fight against the virus, while energy stocks are under pressure due to falling oil prices due to concerns over oversupply.

The UK FTSE 100 plunged from the previous closing price of 7008.09 to 6868.83 and is currently trading near today’s low of 6873.08, down 1.93% from the previous closing price. Of the 101 script index, only two scripts are resisting the genocide with a rise of less than 0.05%.

Central banks withdraw earlier than expected stimulus to counter rising inflation, concerns about delta variants hindering economic recovery, declining energy shares, sentiment on the day Britain lifted pandemic-related restrictions Commented that it influenced.

France’s CAC 40 opened at 6398.84, but fell to a low of 6317.23. This fell by more than 2%, as sentiment about new concerns about viral infections remained weak. Currently, all constituents of the 40 Script Index are trading below the previous closing price.

Germany’s DAX30 is currently trading near the weekly lows of 15227.25 after falling 2.11% from Friday’s closing price. With the exception of Deutsche Wohnen, which is 0.27 percent advanced, all scripts in the 30 script index are in the negative realm. This sentiment was also influenced by recent weather disasters and concerns about an early economic recovery.

The Swiss stock market index has also fallen from its previous closing price, dropping 1.25% and is now trading near 11876.47.

The Pan-European Stocks 600 also fell 1.89% from the previous closing price and is currently trading at 446.29.

European stock exchanges closed last week with DAX 30 down 0.57%, CAC 40 down 0.51%, Pan-Europe Stoxx 600 down 0.32% and FTSE 100 down 0.06%. However, Switzerland’s SMI went against the trend of rising 0.42%.

The Nasdaq-100 index closed on Friday at 14681.38, down 113.31 points (0.77%), but the Dow Jones Industrial Average is a federal official.

The ECB will meet on Thursday and investors are eagerly awaiting the central bank’s monetary policy stance and potential trade-offs between inflation and growth.

UK Gfk consumer confidence figures will be released on Friday, and Germany’s July Ifo Business Climate figures will be released on Monday. Revenue season updates, flash PMI, and upcoming retail sales are all expected to provide the market with some fresh perspectives that will help us see beyond Delta’s despair.

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Delta Despair Ejects European Euphoria

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