European stocks fall despite optimism over US incentives

US, WASHINGTON (ORDO NEWS) — European stocks fell Thursday after two sessions of growth in a row, as the still rapidly spreading coronavirus and fears of a deep global recession overshadowed optimism from the US Senate’s historic $ 2 trillion stimulus package to mitigate the economic impact of the pandemic.

The pan-European STOXX 600 index fell 2.14% to 11.24 Moscow time, and German DAX fell 2.53% after data indicated a sharp deterioration in consumer sentiment in the country to the lowest level since 2009.

Italian and Spanish stocks lost between 2% and 2.6%, as the number of deaths from the virus-caused COVID-19 disease in Italy exceeded 7,500, and in Spain – 3,400, bypassing the total number of deaths in China.

According to the version of the GfK research institute, the consumer confidence index in Germany amounted to 2.7 points in April compared with the revised index of 8.3 points a month earlier.

Shares of UK electronics retailer Dixons Carphone fell 3% after the company warned that it would not achieve a profit and debt forecast for 2019-20, as the outbreak of the virus led to the closure of stores in the UK, Ireland and Greece.


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