* European shares open down sharply on China virus worries
* Miners, luxury, airlines lead sectoral fallers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your thoughts on market moves: firstname.lastname@example.org
OPENING SNAPSHOT: CHINA-EXPOSED SECTORS UNDER PRESSURE (0841 GMT)
European stock exchanges opened in negative territory with mining, airlines and luxury companies suffering the most as China coronavirus death toll climbs to 80.
Despite the week-long holiday to celebrate the Chinese new year, investors are concerned people will avoid travelling. Hotel group Accor ACCP.PA is the worst performer of the French index .FCHI and airlines Lufthansa LHAG.DE , Fraport FRAG.DE , Easyjet EZJ.L , Air France- KLM AIRF.PA and Ryanair RYA.I are all lower between 4 and 5.8% in the early minutes of trading.
Here is a snapshot of the European bourses:
ON OUR RADAR: LUXURY AND AIRLINES (0759 GMT)
Futures point to a lower start of the week for European bourses as investors are growing anxious about the economic impact of China's spreading virus outbreak.
Traders are seeing European airlines and luxury stocks opening down 1-2%, while China-exposed miners should come under pressure too.
There will also be some results to digest: Traders are seeing Landis+Gyr Group LANDI.S down 3-3.5% after company confirmed FY 2019 guidance at lower end of all ranges. Diamonds PDL.L 1H revenue fell 6%, dented by lower prices as the diamond industry grappled with soft demand from China because of the trade war with the U.S. and the anti-government protests in Hong Kong. the retail space, one trader is seeing H&M HMb.ST down 1% after it said on Saturday that data security breaches found at its German unit were unacceptable and it was cooperating with authority. [nL8N29U0FA}
Reuters reported that a Swuss regulator probes board role in Credit Suisse CSGN.S spying scandal, as the spying debacle risks tipping the bank into a crisis that could engulf its top executives. terms of M&A, Swiss food giant Nestle NESN.S bought Allergan's AGN.N medical nutrition business Zenpep. And the founder of British subprime lender Amigo AMGO.L is putting his 60.6% stake of the company on the block. Amigo is seen 5% lower this morning. Alves)
EUROPEAN STOCKS SEEN LOWER (0642 GMT)
Bourses in Europe are expected to open lower imitating Asian markets as investors are growing increasingly worried about the economic impact of China's spreading virus outbreak.
Last week, investors took some relief when the World Health Organisation said the coronavirus outbreak was an emergency in China but not yet a global one. But they are now getting more anxious as more cases add on. in Europe, investors will have a week long of political events to digest: Yesterday, Italy's right-wing leader Matteo Salvini failed in his effort to overturn decades of leftist rule in Emilia-Romagna, one of Italy's richest regions, home for Ferrari (NYSE: RACE ) luxury cars. this week, Britain is due to leave the EU and said it will set out more details about its objectives for a free trade deal with the European Union after the country leaves the bloc on Friday. all into consideration, financial spreadbetters at IG expect London's FTSE to open 75 points lower at 7,585, Frankfurt's DAX to open 164 points lower at 13,576 and Paris' CAC to open 75 points lower at 6,028.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.