On Tuesday, according to the results of trading, stock indices in Western Europe are declining. This may be due to the political uncertainty and concerns about the economic impact of the second wave of coronavirus.
Thus, the Stoxx Europe 600 dropped by 0.36% to 362.09 points. The indicator added 2.2% on Tuesday trading, which showed the highest one-day gain since June 22.
The British FTSE 100 indicator fell by 0.68% to the same number, the German DAX - 0.56%, the French CAC 40 - 0.31%, the Spanish IBEX 35 - 0.25%. The Italian FTSE MIB remains largely unchanged.
A new package of economic stimulus measures totaling $2.2 trillion was presented on Monday in the US House of Representatives. The package was prepared by representatives of the Democratic Party. It includes the resumption of payments to citizens who have lost their jobs due to a lockdown in the amount of $600 per week. Also, House Speaker Nancy Pelosi plans to discuss steps out of the current economic situation with US Treasury Secretary Steven Mnuchin on Tuesday.
The United States will host the first of three televised debates between President Donald Trump and his rival presidential candidate Joe Biden. The debate will take place after the European exchange closes on Tuesday.
Despite the outbreak of Covid-19, retail sales in Spain are growing. Thus, in August, sales increased by 1.8% compared to July. This growth continues for the fourth month in a row.
The leader among the Stoxx Europe 600 components was Ferguson PLC, whose shares rose by 5.1%. According to the results of the financial year, which ended on July 31, the British company reported a fall in pre-tax profit by 4%, while restoring the payment of dividends.
Valmet Corp. declined by 5.4% after a merger proposal to the machine-building concern Neles. Thus, Valmet Corp. became the leader of the decline. The terms of the deal are kept in secrecy, except that Valmet is already the main shareholder of Neles.
Restrictive measures also affect the decline in the value of shares of such companies as Klepierre SA, Deutsche Lufthansa AG, and the operator of international airports Aeroports de Paris. The share price was down by 1.1-2.5%.
