This post was originally published on this site
Stocks in Europe traded lower in early action Monday on worries the spread of coronavirus will force countries to limit or reverse their lockdown easing measures.
Up 3.2% last week, the Stoxx Europe 600 SXXP, -0.18% traded 0.2% lower.
The German DAX DAX, -0.12% , the French CAC 40 PX1, -0.16% and the U.K. FTSE 100 UKX, -0.22% also slipped.
After the 208-point fall for the Dow industrials DJIA, -0.80% on Friday, U.S. stock futures YM00, +0.81% were pointing higher on Monday morning. U.S. stocks on Friday were impacted by Apple’s decision to close stores because of the virus spread.
The news on the coronavirus front hasn’t gotten better since then.
The World Health Organization reported its largest single-day surge in coronavirus cases yet, while the Robert Koch Institute said Germany’s reproduction rate surged to 2.03 after a big outbreak at a North Rhine-Westphalia abbatoir.
The main corporate news story continues to be Wirecard WDI, -38.27% , which plunged 42% after saying a missing 1.9 billion euros of cash probably does not exist. Wirecard said it’s having “constructive discussions” with its lenders about its credit lines, is considering cost cuts and the disposal of business units and product segments.
Another mover was Deutsche Lufthansa LHA, -5.61% , down 8% as its top shareholder, Heinz Hermann Thiele, fights a bailout package. Without Thiele’s support, it’s unlikely the rescue package will be approved by Lufthansa’s shareholders.
