Business British travel ban colors fairs deep red

British travel ban colors fairs deep red

14 augustus 2020


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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