European shares skid as China epidemic fuels economic worry

This post was originally published on this site

(Reuters) – European shares dropped on Thursday as concerns mounted about the economic impact of an epidemic in China that has now claimed 170 lives.

The pan-European STOXX 600 () dropped 0.9% by 0805 GMT, heading for its sharpest weekly decline in nearly four months.

All major European subsectors were in the red with miners (), which rely heavily on China for their metal exports, down 1.4%.

The energy index () slipped 2.2%, pressured by losses in London-listed shares of Royal Dutch Shell (L:) after the company’s quarterly profit missed expectations on weaker oil and gas prices.

After the U.S. Federal Reserve stood pat on interest rates, as expected, investor attention now shifts to the Bank of England’s decision due later in the day, with expectations of the first rate cut in more than three years standing at nearly 50%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.