European equities up, but could show worst quarter since 2002

US, WASHINGTON (ORDO NEWS) — European stocks rose on Tuesday, while investors turned to the defensive sectors in anticipation of further signals about whether the economy will be able to withstand the effects of an almost complete global halt to curb coronavirus.

The pan-European STOXX 600 index rose 1.8% to 10.20 Moscow time, while the real estate, utilities and telecommunications sectors – generally considered stable during increased volatility – added 1.4% to 2.6%.

Nevertheless, STOXX may show a record quarterly decline since 2002 after a panic sale, as a result of which European companies lost nearly $ 3 trillion in capitalization in just over a month.

HelloFresh shares jumped nearly 16% to a record high after a German food-delivery company predicted revenue for the first quarter above market expectations.

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