Leading European financial markets fell today on fears of a second wave of Covid-19.
London’s blue-chip FTSE 100 Index closed down 92.72, or more than 1.5% lower, at 5,904.05 points, while France’s Cac 40 and the German Dax fell by 2.85% and 2.56% respectively.
In the US, the Dow Jones was nearly 2% lower by the London market close amid reports of rising Covid-19 infections in countries which have relaxed their lockdowns.
Brent crude was down more than 1.5% at $29.52, as of 5.30pm, suggesting commodity traders were also unnerved by the latest global updates on Covid-19.
FTSE stocks were also impacted by weak UK economic data, although a 2% year-on-year drop in gross domestic product in March was not as bad as experts had forecast.
Shares in travel giant Tui were down 4.3p, or more than 1.6% at £2.60 after it announced plans to axe up to 8,000 jobs globally.
Tui – calling Covid-19 the “greatest crisis” the industry has faced – also posted pre-tax losses of £769 million for the six months to March 31, compared with a trading shortfall of about £334.5 a year earlier.
Chief executive Fritz Joussen said the company should “emerge from the crisis stronger”.
European financial markets fall over fears of second wave of Covid-19
