European Stocks Fall Again on Fears of Second Wave of Infections

This content was published on July 27, 2020 - 16:04

(Bloomberg) --

European equities fell for a second day as new virus data suggested setbacks in global efforts to contain the coronavirus pandemic.

The Stoxx Europe 600 Index closed down 0.3%, with travel and leisure shares and lenders leading declines. Spain’s IBEX 35 was the worst-performing benchmark, 1.7% lower, after fresh outbreaks prompted the U.K. to impose a quarantine on travelers returning from the country.

Equities in the region retreated from their crisis highs last week amid concerns over global trade as Sino-U.S. relations deteriorated, and worsening outbreaks in some of Europe’s key export markets. Major country benchmarks diverged in their recovery, with Germany’s DAX outpacing Britain’s FTSE 100 and France’s CAC 40.

Software firm SAP SE rose 2.7% after announcing plans to spin off a unit and boosting its full-year guidance. Insolvent payments firm Wirecard AG rose 16% after its administrator said late on Friday that 77 parties had shown interest in its core business.

©2020 Bloomberg L.P.

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