The European stock market closed in the red on Friday (19), registering the first weekly decline in seven weeks due to concerns about the economic damage of new lockdowns against Covid-19 in the region, which affected cyclical sectors such as banks and automakers .
The FTSEurofirst 300 index fell 0.32% to 1,882 points, while the pan-European STOXX 600 index lost 0.33% to 486 points, after circling record highs earlier in the session.
The STOXX 600 closed the week down 0.1%.
The market lost ground after news that Austria will become the first country in western Europe to re-adopt a full lockdown to deal with a new wave of coronavirus infections.
German Health Minister Jens Spahn said the country’s coronavirus situation was so serious that a lockdown, including for vaccinated people, could not be ruled out.
Sectors more exposed to the economic cycle, such as banks, automakers and travel and leisure companies, fell between 1.5% and 2.2%.
European equities hit a series of record highs this month as the stronger-than-expected corporate balance sheet season helped investors put aside concerns about inflationary pressures.
- In London, the Financial Times index retreated 0.45%, to 7,223 points.
- In Frankfurt, the DAX index fell 0.38% to 16,159 points.
- In Paris, the CAC-40 index lost 0.42%, to 7,112 points.
- In Milan, the Ftse/Mib index had a devaluation of 1.17%, to 27,337 points.
- In Madrid, the Ibex-35 index dropped by 1.68%, to 8,753 points.
- In Lisbon, the PSI20 index dropped 1.37%, to 5,501 points.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
