Sat. Jan 16th, 2021

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European markets plunge

1 min read
New york stock exchange

European stocks are expected to open lower Monday as allegations surrounding bank dealings and rising coronavirus infections weigh on market sentiment around the world.

London’s FTSE is seen opening 40 points lower at 5,976, Germany’s DAX down 52 points at 13,104,  France’s CAC 40 15 points lower at 4,972 and Italy’s FTSE MIB down 20 points at 19,425, according to IG.

As well as the latest coronavirus developments, investors in Europe will be keeping a close eye on bank shares Monday following allegations this weekend that some have been dealing with suspicious funds.

The pan-European Stoxx 600 closed down by nearly 3.2% provisionally, with banks plunging 5.7% and travel stocks tumbling 5.2% to lead losses.

Investors in Europe kept a close eye on bank shares Monday following allegations this weekend that some have been dealing with suspicious funds.

The U.K. government’s top scientists warned the country could expect to see almost 50,000 new coronavirus cases per day in mid-October if no action is taken.

 

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