Stocks in Europe edge lower after strong rally with reopening still in focus


European stocks slid on Monday, giving some of last week’s recovery as traders continued to focus on reopening the global economy.
Up 7.1% last week and 2.5% on Friday, the Stoxx Europe 600

decreased by 0.4%.
The German DAX

down 0.6%, French CAC 40

lost 0.4% and the UK’s FTSE 100

0,3 %.

The United States announced on Friday that it had added 2.5 million jobs in May, surprising economists who had forecast a decline.

French Labour Minister Muriel Pénicaud said on France Info that economic activity is 80% of normal.
Germany said on Monday it had suffered a record 17.9% drop in industrial production in April.
“The lifting of the blocking measures is expected to lead to a strong rebound in economic activity and industrial production in May and June. However, at least for German industry, the period following the impending rebound does not seem too promising,” said Carsten Brzeski, chief eurozone economist and global macro manager at ING.
Fed officials are not ready to announce a decision on the so-called performance caps when their two-day policy meeting ends Wednesday, the Wall Street Journal reported.

slid 2.1% after Bloomberg News said it approached Gilead Sciences

last month on the purchase of the manufacturer of re-ivir. AstraZeneca said it does not comment on rumor or speculation.
UBI Banca
3,93 %

increased by 2.8% after Intesa Sanpaolo
2,65 %

stated that it had received approval from the European Central Bank to acquire a majority majority. Intesa shares were up 0.5%.


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