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European Shares Drop on Coronavirus Cases and weak Euro Zone Data

1 min read | January 31, 2020 08:00 PM GMT | By Team Kalkine Media
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  • Trading in the negative territory, European stocks gave up previous gains on 31st January 2020 after Italy and the United Kingdom corroborated their initial coronavirus cases, and a set of depressing euro-zone signs also weighing on sentiment.
  • The pan-European STOXX 600 was quoting lower at 0.4%, FTSE 100 index, Britain's blue-chip index was quoting down 0.9% on 31st January 2020 after England's chief medical officer revealed two patients had been found positive for the virus.
  • The FTSE MIB (FTMIB) index dropped by 1.3% on 31st January 2020, driven by the country's cabinet announcing a state of emergency after two cases of the virus in Italy were confirmed.
  • Novacyt (NCYT.L) is a France-based healthcare company, which shot up by over 50% after stating it had introduced a new molecular test for the coronavirus.

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