European Stock Markets Retreat At Open

European stock markets retreat at open

London, (UrduPoint / Pakistan Point News - 14th Aug, 2020 ) :European stock markets fell at the start of trading on Friday, extending the previous session's losses over fears of a second wave in coronavirus cases and the stalemate in Washington over a new stimulus package for the US economy.

London's benchmark FTSE 100 index dropped 0.5 percent to 6,152.82 points, after the UK government reimposed a quarantine for travellers from France and the Netherlands, prompting Paris to quickly announce a "reciprocal measure".

The Paris CAC 40 index retreated 0.6 percent to 5,010.03 and Frankfurt's DAX 30 shed 0.3 percent to 12,961.12.

"European markets turned south on Friday led by a decline in travel and leisure stocks after the UK added France to its 14-day quarantine list," noted Neil Wilson, chief market analyst at Markets.


"After a decent start to the week it looks like equity markets are finishing off rather meekly."The UK government announced the change will kick in at 0300 GMT on Saturday, likely sparking a mass exodus among the estimated 160,000 British holidaymakers in France, after a rise in coronavirus cases there.

Equities were retreating also over fading hopes of a US stimulus deal being struck -- and ahead of key weekend trade talks between the United States and China.