European Shares Mixed As Virus Worries Mount
European stocks were mixed on Monday as the fast-spreading delta variant of the novel coronavirus raised fears of an uneven and fragile global economic recovery.
The World Health Organization (WHO) director general Tedros Adhanom Ghebreyesus warned on Saturday the world is currently in a very dangerous period of the pandemic and the delta variant is continuing to evolve and mutate.
The pan European Stoxx 600 was marginally lower at 456.59 after closing 0.3 percent higher on Friday.
Underlying sentiment remained supported somewhat after a survey showed business activity in the euro zone hit a 15-year high in June.
The U.K. services sector continues to rebound from the pandemic, but price pressures jumped by the most on record, adding to inflation fears.
Eurozone Sentix Investor Confidence rose to 29.8 from 28.1, but missed expectation of 30.2.
The German DAX dropped 0.3 percent and France’s CAC 40 index was marginally lower while the U.K.’s FTSE 100 edged up 0.2 percent.
Skanska, a Swedish development and construction company, was down 0.7 percent. The company has signed a contract with the New York City Economic Development Corp. to construct a new municipal health lab in Harlem, New York, USA.
Shares of Wm Morrison Supermarkets soared 11 percent after the company reached agreement to be acquired by Fortress Investment Group (UK) Ltd. for 254 pence per share in cash and dividend.
Travel stocks gained ground in London, with Ryanair Holdings, EasyJet and IAG climbing 1-3 percent as tourism and aviation bosses urged the government to add more destinations to the U.K.’s green list for international travel.
Glencore advanced 1.8 percent. The commodity company has announced the appointment of Kalidas Madhavpeddi as the new Chairman on July 30.
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