Due to corporate results, European stock market closes with stability

despite the coronavirus outbreak, which continues to affect stock exchanges worldwide, the European stock market closed with stability this Wednesday (26). Although he had losses during the day, these casualties were offset by corporate results from utility companies and also from institutions in the automobile sector.

As for the first case, the highlight was the company Iberdrola SA. That's because the annual profit of this Spanish electricity supplier has grown vigorously. With regard to the automobile sector, the leadership was the French automaker Peugeot SA thanks to its performance in 2019. Want to know more about the European stock market? Then continue reading our article!

Understand why the European market closed stable even with the coronavirus outbreak

The good performance of the French automaker did not only benefit the institution itself. Fiat Chrysler also made gains as it looks like the Italian corporation will merge with Peugeot.

The good corporate results were reflected by the FTSEurofirst 300 Index, which increased by 0.05%, reaching 1,577 points. As for the pan-European STOXX 600 index, it was flat. This is a good result if we consider that, before that, he had dropped 2.9%. At that time, it reached its lowest level within the 4-month period.

Still, there were sectors that were hit hard. Travel stocks, for example, took the biggest losses as they were down more than 9% this week. Within that sub-index, airlines were the hardest hit.

It is also worth presenting the performance of some specific European markets. The Financial Times Index (London) rose by 0.35% to 7,042 points. The Ftse/Mib index (Milan) gained 1.44%. In this way, he reached 23,422 points. As for the Ibex-35 index (Madrid), there was an increase of 0.71%. For that reason, he reached 9,316 points.

Final considerations

Having said that, we News Report we hope we have clarified why the European stock market ended the day with stability. Comment below what is your opinion regarding the reaction of stock exchanges to the epidemic that has occurred in China.

Also tell us if you think the coronavirus outbreak will still have great impact on the global market in the future. We are curious to know your opinion. Finally, keep following our website. We will always keep you informed about the economy of our country and the world!

 

Source: G1