European shares fall on fears over China’s COVID containment – SABC News

European stocks fell on Monday, with economically sensitive sectors such as miners and industrials suffering losses on concerns about the impact of rising COVID-19 cases in China.

The pan-European STOXX 600 index was down 0.2% by 08.11 GMT after a fifth straight weekly gain on Friday.

Asian shares fell 1.3% as investors worried about the economic fallout from China’s new COVID-19 restrictions and Beijing’s most populous district urged residents to stay at home as the number of COVID-19 cases rose.

Travel and leisure for miners and industrial goods and services fell 0.5% to 1.4%, leading losses among European sectors. Defensive sectors such as health care and utilities rose in early trading.

Julius Baer fell 0.5%, even as the bank said it was on track to meet its 2022 profitability targets, despite ​”difficult market” conditions taking a big bite out of its assets under management.

HelloFresh rose 5.4% after Goldman Sachs started coverage on the German meal kit maker with a buy rating.

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