Business British travel ban colors fairs deep red

British travel ban colors fairs deep red

14 augustus 2020

11:29

The European stock markets are turning deep red with losses of more than 2 percent. British travel restrictions and disappointing corona figures give the market a reality check.

The European stock markets have to stand up firmly on Friday. The Bel20

has its worst day this month with a loss of 1.9 percent. The full star index turns red. Cyclically sensitive stocks Solvay

in Aperam

losses up to 4 percent.

Investors are seeing their patience tested now that an expected breakthrough regarding an American support package for the economy is not forthcoming. Negotiations between Democrats and the White House on a sizeable stimulus package have been dragging on for weeks now. Due to the parliamentary recess, an agreement on the package worth $ 1,000 billion might not be finalized until September.

The market is also responding to the UK’s decision to require travelers to go into self-isolation for 14 days. The quarantine obligation already applied to Belgians. Now the Netherlands and France, among others, are added to the list. The sharpening shows that – even if the stock markets are celebrating – it is still far from business as usual in the economy.

The aviation group Air France-KLM

has to give up almost 6 percent. The budget airlines Ryanair

in easyJet

losses up to 5.5 percent. The tour operator TUI

drops 7 percent.

The bad trading day cut through a nice profit streak. After a weak July, the European stock markets had an excellent start to August with an average gain of 6 percent since the start of the month.

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