The Business Times

Europe: Stocks ease from record high ahead of earnings season

Published Mon, Apr 12, 2021 · 03:32 PM

[BENGALURU] European stocks eased from all-time highs on Monday as investors held off from making big bets ahead of the earnings season, while British retailers were set to reopen as the economy emerges from a strict winter lockdown.

The pan-European Stoxx 600 index slipped 0.1 per cent by 7.11am GMT, following Asian markets into the red as investors waited to see if US earnings can justify sky-high valuations.

There were some concerns as Covid-19 cases continued to surge globally.

UK's domestically focussed FTSE mid 250 index inched 0.2 per cent lower, but hovered below a record high as shops, pubs, gyms and hairdressers reopened after three months of lockdown.

Airlines EasyJet and Ryanair fell close to 3 per cent after HSBC downgraded their stocks to "hold" from "buy".

Italian diagnostics group DiaSorin jumped 7.5 per cent after it said it will acquire US based Luminex for US$1.8 billion in an all-cash deal.

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