(RTTNews) – European stocks closed sharply on Wednesday as the coronavirus uptick, uncertainty surrounding the outcome of us elections, and considerations about the Brexit agreement outweighed positive economic knowledge outside China.
Germany imposed new blocking measures to involve the spread of the virus in autumn and winter. In France, the fitness government reported an increase of more than 8,000 new Covid-19 infections in 24 hours, up from 4,070 on Monday.
In the UK, coronavirus cases increased through more than 7,100 cases on Tuesday, the largest one-day increase to date.
After spending much of the day until mid-afternoon in the red, the movements staged something of a rally in the last hour, but faltered towards the end.
Markets in Europe, Denmark, Finland, the Netherlands, Poland, Russia and Sweden ended up low.
Austria, the Czech Republic, Greece, Norway, Portugal and Turkey closed upwards, while Belgium, Iceland, Ireland and Spain ended unchanged.
In the UK market, Rolls-Royce Holdings fell by almost 7%. Ocado Group lost about 5%, while Prudential lost 2. 3%.
Compass Group shares closed by approximately 3% after the company reported that its fourth quarter biological gain had fallen by approximately 36%.
BP, CRH, Melrose, Rio Tinto and Tesco were among the notable losers.
Among the winners, TUI grew more than 5%. Carnival, IAG, ITV, EasyJet, 3i Group and Land Securities were up 2% to 4%. Standard Chartered, Standard Life, WPP, BT Group, and Persimmon finished considerably higher.
In France, WorldLine, LVMH, Schneider Electric, Air Liquide, Vinci and Dassault Systems fell from 1% to 2. 5%.
Technip, Total and STMicroElectronics rose from four to 4. 5%. Societe Generale rose 2. 65%, Peugeot, Accor, Publicis Groupe and Bouygues rose from 1. 8 to 2%, while Crédit Agricole finished at 1. 5%.
Among the winners, Deutsche Bank rose more than 2. 5%. Daimler and Lufthansa won more than 2%. BMW, MTU Aero, Vonovia, Deutsche Telekom and Fresenius recorded modest profits.
In economic releases, unemployment in Germany fell for a third month in September, while retail sales rose much more than expected in August, according to separate reports.
Germany’s retail sales increased by 3. 1% year-on-year in August, reversing a 0. 2% drop in July, according to Destatis data.
Data from the Federal Labour Agency showed that the unemployment rate in Germany fell to 6. 3% seasonally adjusted in August. Economists expected the unemployment rate to remain unchanged at 6. 4%.
As a result of coronavirus containment measures, gross domestic product fell to 19. 8% sequentially, the rate was revised from an estimated decrease of 20. 4% in the first place.
Inflation in the value of space in the UK peaked at four years in September in the call for support and stamp duty holidays, as the Nationwide Building Society’s knowledge showed on Wednesday.
Housing costs increased by 5% year-on-year in September, the highest since September 2016, and inflation is expected to rise from 3. 7% to 4. 5%.
On a month-to-month basis, space value inflation slowed to 0. 9% from 2% in August.