Europe: Shares sink on lockdown concerns as virus cases surge

The Business Times | Oct 16, 2020 at 2:00 AM
  • European shares sank on Thursday as a resurgence in Covid-19 cases across the continent and fading hopes for more US fiscal stimulus before the presidential election dented demand for equities globally.
  • European stock markets bounced from the coronavirus lows hit in March on a raft of global stimulus, but sentiment has recently taken a hit from the surge in infections as well as signs of a slowing economic rebound.
  • The UK’s FTSE 100 was down 1.7 per cent as the government imposed tighter restrictions in London, while investors looked for signs of progress towards a Brexit trade deal at the two-day European Union summit that began on Thursday.