Sunday , March 7 2021

European indices will fall to two weeks low with a high sales volume in almost all sectors

Over the course of two weeks, European stock markets peaked thanks to large-scale oil, mining, technology and banking sales, reflecting renewed concerns about the global economic downturn and the deepening of the Italian budget crisis.

    REUTERS / Simon Dawson

REUTERS / Simon Dawson

Photo: Reuters

FTSEurofirst 300 index <.FTEU3> decreased by 0.66 percent to 1425 points, and across the whole of Europe, the STOXX 600 index <.STOXX> lost 0.6 percent to 362 points

STOXX is the euro area core activity index <.STOX50E> Closed at the lowest level since October 31st to start trading, recovering a small spot after and finally close to these levels, Wall Street moved to a negative with Apple caused a further drop in technology stocks.

European technology activities <.SX8P> dropped by 0.6 percent as the chipset manufacturer AMS dropped another 10 percent to STOXX 600 floor.

As Apple and Qualcomm warned that to this day stocks have lost almost a third of their market value, fearing a weak holiday season in the United States.

Italy's decision to keep its growth and deficit plans in the new draft budget proposal has set a double stage with the European Union in terms of violating structural deficit limits.

This increased the yield on Italian government bonds and the FTSE MIB <.FTMIB>, which decreased by 0.8%, the decline in bank shares by 1.4% <.FTIT8300>.

"Continuing pressure on Italian government bonds could lead to a major debt crisis that could easily spread across the region," said market analyst DMC Markets, David Madden.

"Teresa goes to May, because she needs to convince her cabinet and then a majority in the general parliamentary elections to return to her proposed settlement of the EU departure from the UK."

Oil and gas industry <.SXEP> dropped by 0.5 percent, reducing future losses, as oil prices managed to recover a little after a drop of 7 percent on the previous day with an increase in supply. [O/R] In this way, the industry lost its highest position in health care during the year.

FTSEurofirst 300 index <.FTEU3> closed 0.66 percent to 1,425 points.

LONDON, Financial Times Index <.FTSE> decreased by 0.28 percent to 7,033 points.

FRANKFURT DAX index <.GDAX> decreased by 0.07 percent to 11409 points.

PARIS, CAC-40 index <.FCHI> lost 0.65 percent to 5,068 points.

MILAN, Ftse / Mib index <.FTMIB> devaluation was 0.78 percent to 19,077 points.

MADRI index Ibex-35 <.IBEX> decreased by 0.42 percent to 9.106 points.

LISBON – PSI20 index <.PSI20> was rated 0.08 percent with 4.959 points.

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