ZCZC
BCN-05
MARKETS-EUROPE-OPEN
European stocks drop at open
LONDON, March 24, 2021 (BSS/AFP) – European stock markets dropped at the
open on Wednesday as the region faces fresh coronavirus infection spikes and
lockdowns.
Frankfurt’s DAX 30 index retreated almost 0.9 percent to 14,535.48 points
and the Paris CAC 40 also lost 0.9 percent to stand at 5,893.33.
Outside the eurozone, London’s FTSE 100 dropped 0.6 percent to 6,658.54
points, but losses were less pronounced given Britain’s rapid vaccination
drive.
Investor fears are growing over another deadly wave of the Covid-19
pandemic, adding to concerns over a stimulus-fuelled inflation spike.
Europe’s two biggest economies, Germany and France, as well as a number of
other countries have been forced to reimpose new restrictions to battle the
disease, at the same time as they struggle to get their vaccination
programmes rolling properly.
“Risk appetite is less-than-ideal as governments roll out new restriction
measures against the third wave of Covid contamination,” said Swissquote
senior analyst Ipek Ozkardeskaya. The news “means delay in economic recovery
for at least another month… as economies struggle… to reach the end of a
long tunnel”, she warned.
BSS/AFP/MSY/1442 hrs