European strains fall on fear of virus mutation

European stocks plunged on Friday following a newly identified report of potential vaccine resistance. coronavirus A variant has been added to concerns about the proliferation of Covid cases in Europe.

Little is known about the mutations found in South Africa, Botswana, and Hong Kong, but scientists said they could avoid the immune response or increase infectivity.

The World Health Organization will hold a “special meeting” today to discuss whether a significantly mutated strain will be a strain of interest or a strain of concern.

The Pan-European STOXX 600 fell 2.9% to 467.64, with all sales seen.

Germany’s DAX fell by more than 3%, France’s CAC 40 index fell by 3.9%, and the UK’s FTSE 100 fell by 3%.

Commerzbank, BNP Paribas, Lloyds Bank and Deutsche Bank lost 5-6% and tracked a decline in bond yields.

Travel stocks have been hit hard by the UK’s announcement of temporary flight bans in six African countries.

British Airways owners IAG and airline EasyJet both plummeted by about 11%, while travel agency TUI lost 9%.

Air France-KLM plunged 7.9% and Lufthansa fell 11%.

Commodity-related stocks fell sharply as oil and metal prices fell due to concerns over a slowdown.

Miners Anglo American, Antofagasta and Glencore fell 4-5%, oil and gas company BP Plc fell 6.3%, and Royal Dutch Shell fell 5%.

Beverage company Diageo fell 2.8% after announcing its launch of the next tranche of its capital return program.

Infineon Technologies fell 2.9%. The semiconductor company announced on April 1 that Jochen Hanebeck has been appointed as the new Chief Executive Officer.

Stay-at-home orders went against the weak trend, with Delivery Hero and JustEat both rising by about 2%.

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European strains fall on fear of virus mutation

Source link European strains fall on fear of virus mutation

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