Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
European stocks near 1-month low as German consumer morale weakens
Published at 22/10/2020 at 08:17

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Oct 22 (Reuters) - European stocks hit their lowest level in almost a month on Thursday, as a fall in German consumer morale, worries about soaring coronavirus cases and a U.S. stimulus impasse weighed on sentiment.

The German DAX fell 1.3%, lagging its European peers, as a survey showed consumer morale in Europe's largest economy dropped heading into November as fears about a second coronavirus wave made Germans less willing to open their wallets.

The pan-European STOXX 600 slipped 0.9% by 0708 GMT, in its fourth session of losses.

Europe has seen COVID-19 cases climb to a record high, with Spain becoming the first Western European country to exceed 1 million infections and Italy setting a record increase in daily cases.

Earnings remained a bright spot. Unilever , rose 0.7% after the company reported a stronger-than-expected return to quarterly sales growth, led by emerging markets.

French spirits maker Pernod Ricard also gained 1.0% after saying that sales would return to growth in the second half of its 2020/2021 fiscal year.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

((; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))