United Kingdom quarantine decision hits airline stocks

Cornelia Mascio
Agosto 14, 2020

London-listed shares fell today as easyJet and British Airways tumbled after the United Kingdom imposed fresh quarantine measures on travellers from France and other countries, taking the shine off a strong week of stock market gains.

The continent-wide Europe Stoxx 600 fell 1.8 percent in early morning trading as offering sped up after the open. Banks .SX7P , oil and gas firms .SXEP and construction & materials companies .SXOP fell over 2%.

Citing statistics, on Thursday's European market closure, key indices had wrapped the day broadly lower with London's FTSE 100 losing 1.50 per cent to 6,185.62, while the French CAC 40 fell 0.61 per cent to 5,042.38 and Frankfurt's DAX dwindled 0.50 per cent to 12,993.71.

France, the second-most popular overseas destination after Spain for Britons, warned that it would reciprocate.

Data today showed China's retail sales unexpectedly slipped in July, while the factory sector's recovery struggled to pick up pace.

Official data, due for release at 0900 GMT, is likely to confirm that euro zone economy suffered its deepest contraction on record in the second quarter.

Trade issues were still very much in focus, with officials from the U.S. and China due to meet on Saturday for a review of their deal. New quarantine rules for British travellers also helped take the shine off a strong week of stock market gains that were powered by bets of more economic stimulus.

Daimler slipped 1.3% as it reached agreements costing almost $3 billion to settle investigations by US regulators over a software to cheat diesel emissions tests.

Among top individual movers, German container shipping line Hapag-Lloyd surged 10.3% as it almost doubled net profit in the first half of 2020 and kept its full-year outlook intact.

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