European Stocks Fall on Covid-19 And Doubts About US Stimulus

European stocks fell for the third consecutive session Thursday, as demand for global stocks was negatively affected by concerns about the economic damage resulting from more general isolation measures aimed at slowing the spread of the Corona virus and dashed hopes of fiscal stimulation in the United States before the presidential elections.

The pan-European STOXX 600 index fell 1.3% as France imposed a curfew and other European countries say they will close schools and cancel surgeries to cope with an increase in Covid-19 cases ahead of the winter season.

Stocks in France, Italy, Spain and Germany fell between 1.3% and 1.6%.

In the United Kingdom, the expiration of the right to dividends caused a decline in the FTSE 100 index of the leading stocks, while investors were looking for signs of progress in concluding a trade agreement to leave the European Union with a two-day summit of the Union that is scheduled to start later today. .

Swiss pharmaceutical maker Roche fell 1.9%, despite the company reporting record revenues in the diagnostic sector, offsetting the impact of lower drug sales and keeping it on track to meet its full-year targets for 2020.