European stocks fell after increasing concerns about virus

US, WASHINGTON (ORDO NEWS) — European shares fell for the second straight session on Monday, as concerns over the economic damage caused by the Coruna epidemic and the extension of several countries almost total isolation to curb the spread of influenza-like illness.

The pan-European STOXX 600 index fell 0.8 percent by 0714 GMT, and energy, industrial, travel and entertainment stocks topped the declining sectors.

The banking sector fell 2.5 percent again, to exceed its monthly losses of 28 percent, and UniCredit, ING and ABN AMRO were among the first group of banks to comply with the European Central Bank’s appeal to freeze dividends in an attempt to boost credit.

In a new sign of companies affected by the epidemic, Swiss engineering group ABB Group fell 5.7 percent after issuing a profit warning and saying that all its activities will suffer in the first quarter.


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