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European shares fall as investors eye data showing virus impact

Published 02/21/2020, 04:13 PM
Updated 02/21/2020, 04:16 PM
European shares fall as investors eye data showing virus impact
STOXX
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SXEP
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SX7P
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SXIP
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Feb 21 (Reuters) - European shares dropped on Friday as
markets awaited a local reading on economic health to gauge the
extent of the impact of the coronavirus on business activity in
the bloc.
The outbreak has killed more than 2,000 people so far and
upended industrial activity in China, causing disruptions for
several European manufacturers that supply and source products
from one of the EU's largest trading partners.
The pan-European STOXX 600 index .STOXX fell 0.5% by 0803
GMT and was set to lose slightly for the week. A raft of weak
earnings, particularly in the insurance .SXIP and bank .SX7P
sectors, have weighed on the index over the past week.
Commodity-linked subindexes such as basic resources .SXPP
and oil and gas .SXEP stocks were among the worst performers
in early trade.
The IHS Markit's euro zone flash composite purchasing
manufacturer's index (PMI), due at 0900 GMT, is expected to
provide a preliminary reading on business activity in February.
The figure is expected to weaken from the prior month,
according to a Reuters poll.


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