• Tue. Dec 7th, 2021

New Covid variant: European stock markets plunge at the opening – archyworldys

Byeditorial

Nov 26, 2021

The control room of Euronext, a company that manages the Paris Stock Exchange, in La Défense, November 21, 2019 (AFP / ERIC PIERMONT)

The Paris Bourse cracked at the start of the session on Friday, falling more than 4.03%, caught up like other world places by the emergence of a new variant particularly contagious in South Africa.

The flagship CAC 40 index fell 285.26 points to 6,790.61 points around 9:30 am, canceling out its gains since the beginning of the month. “Black Friday turns into Red Friday”, sums up Christian Parisot, broker Aurel BGC.

Elsewhere in Europe, the trend was similar with losses of over 3% in London or Frankfurt.

The movement, visible in all financial places in the world, was triggered after the announcement of the detection of a new variant of Covid-19 in South Africa, called for the moment B.1.1.529. It has the potential for very rapid spread, according to scientists, who at this point do not know whether currently available vaccines are effective against it.

On Thursday evening, the United Kingdom announced that it would ban entry at 12 p.m. GMT to travelers from six southern African countries. Germany announced for its part to refuse entry to its territory from Friday evening to foreign travelers from South Africa, Italy extending this ban to a total of seven southern African countries.

“For two weeks, health concerns have returned to the market. In the state of mind of the last few days, we felt a form of mistrust, without going as far as stress, with for example an increase in volatility”, explains to AFP Alexandre Baradez, IG France analyst.

Despite the health restrictions already tightened in a number of European countries, going as far as reconfinements, macroeconomic concerns about inflation, or even the announced decline in central bank support measures for the markets, investors “could expect a a little more significant moment to take profits “, and the announcement of a new variant was finally the trigger, he believes.

Especially since the Parisian index has been evolving for several weeks at historic levels, having reached 7,183 points in mid-November.

In addition, the movement can be accentuated with “with the weak liquidity available” on the markets currently, estimates Michael Hewson, analyst of CMC Markets. After a holiday Thursday for Thanksgiving, Wall Street only opens for half a day on Friday.

Investors headed for the bond market, a place of refuge in times of uncertainty: the interest on the French 10-year loan fell to 0.05%, against 0.12% at the close the day before.

Leisure and travel values ​​were particularly affected: Airbus lost 13.59%, Safran 10.69%. In transport, Renault fell by 7.72%, and Stellantis by 5.79%.

The Unibail-Rodamco-Westfield property collapsed for its share of 13.55%. Even luxury, heavyweight of the rating, was in sharp decline: LVMH yielded 3.97%, Kering 4.45%.

The only value in the spotlight on Friday, the French giant of analysis laboratories Eurofins Scientific soared 6.32%.

Euronext CAC40

fs / mla / spinnaker

One thought on “New Covid variant: European stock markets plunge at the opening – archyworldys”
  1. editorial says:

    Download Milo Korbenski – Late Night, Sweating Album Mp3 Zip
    Download Vamp&Harrow – Diamonds and Dust Album Mp3 Zip
    Download Greg Schmitt – Escape Album Mp3 Zip
    Download Stephan Kondert – Skxangelite Album Mp3 Zip
    Download The Black Barons – I’ve Gone My Way (feat. Flo & Jessie) – EP Album Mp3 Zip
    Download 小坂忠、久米小百合 – Michtam Worship Song/Hosanna! Album Mp3 Zip
    Download Summer Jazz Relax – Bossa Nova Lounge for Quarantine Album Mp3 Zip
    Download Kids on the Move – Verses on the Move Album Mp3 Zip
    Download Nixda! – Nach vorn – EP Album Mp3 Zip
    Download Hang Em High – The Kidnapping of Ståle Storløkken Album Mp3 Zip
    Download Amuse – Hebrews 6:19 Album Mp3 Zip
    Download DEY HARD – Analog Album Mp3 Zip
    Download Madatracker – Punk Rock Album Mp3 Zip
    Download Gehu – 1 – EP Album Mp3 Zip
    Download Farius – Forever / Kechno – EP Album Mp3 Zip
    Download Psalmer På Orgel – Psalm Karaoke Album Mp3 Zip
    Download Joshy G – A Big Day at Waimea Album Mp3 Zip
    Download Archi – Не спасти не сохранить Album Mp3 Zip
    Download Various Artists – In the House Entertainment Album Mp3 Zip
    Download Jah Garvey – Brand New Day Album Mp3 Zip
    Download The Swing Kids – Yeah, Good Feelin’ – EP Album Mp3 Zip
    Download Nostromosis – Warrior of Light Album Mp3 Zip
    Download Jonny Nash & Suzanne Kraft – A Heart So White Album Mp3 Zip
    Download Glume – SPRING – EP Album Mp3 Zip
    Download Louis Jacoby – Hvem er egentlig du? – EP Album Mp3 Zip

Comments are closed.