European shares dip as virus fears intensify

  • Reuters
  • Stock Market News
European shares dip as virus fears intensify
Credit: © Reuters.

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March 30 (Reuters) - European shares fell for the second straight session on Monday, as fears about the economic hit from the coronavirus pandemic intensified with several nations extending near-total lockdowns to curtail the spread of the flu-like disease.

The pan-European STOXX 600 index .STOXX was down 0.8% at 0714 GMT, with energy .SXEP , industrials .SXNP and travel and leisure .SXTP stocks leading declines.

The banking sector .SX7P tumbled another 2.5%, bringing its monthly losses to more than 28%, with UniCredit CRDI.MI , ING INGA.AS and ABN Amro ABNd.AS among the first set of lenders to comply with the ECB's appeal to freeze dividends in a bid to shore up credit. fresh signs of the business impact from the outbreak, Swiss engineering group ABB ABBN.S fell 5.7% after issuing a profit warning and saying all of its businesses would suffer in the first quarter.

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