Europe Markets

European markets close lower as coronavirus concerns linger

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  • The pullback comes after states including Alabama, California, Florida and North Carolina report a rise in daily new coronavirus cases. Texas and North Carolina reported a record number of virus-related hospitalizations Saturday.

European stocks ended the day in the red on Monday, amid concerns over a resurgence of the coronavirus in Asia and the U.S. as lockdowns are eased.

The pan-European Stoxx 600 recovered the majority of its steep earlier losses, but still finished around 0.2% lower. Germany's DAX fell around 0.3%, France's CAC 40 ended the day provisionally 0.4% lower, and the U.K.'s FTSE 100 closed down around 0.8%.

Markets in Europe followed their Asian counterparts lower as concerns over a second wave of coronavirus cases dominate market sentiment. Asian stocks traded lower Monday and U.S. stocks fell in morning trade on Monday.

The pullback comes after states including Alabama, California, Florida and North Carolina report a rise in daily new coronavirus cases. Texas and North Carolina reported a record number of virus-related hospitalizations Saturday.

China, the original epicenter of the pandemic, is also subject to concern about a second wave, after Reuters reported that a district of Beijing is in a "wartime emergency" due to the discovery of a new cluster of infections centered around a wholesale food market.

Meanwhile, protests against racism and police brutality, that started following the death of George Floyd in police custody in Minneapolis last month, continued in the U.S. and Europe. Tensions have risen further after the death of Rayshard Brooks, a black man killed by a white police officer in Atlanta on Friday. The Fulton County Medical Examiner's office said on Sunday that the death was a homicide, Reuters reported. 

In Europe, attention was also on travel restrictions being lifted between most European countries on Monday, while in the U.K., nonessential shops were allowed to reopen as long as social distancing measures were in place.

In terms of individual share price moves, Danish insurer Tryg fell 8.5% to the bottom of the Stoxx 600, while Belgian scientific research firm UCB climbed 14.9% after presenting positive data for a new skin clearance treatment.