The European stock exchanges have started the week with a blunt collapse before the expansion of the cases of coronavirus in Italy. The financial markets, which seemed calmer in the face of declining cases in China, have once again been alerted to the increase in those affected in other countries such as Italy, where in just three days four people have died and hundreds have been detected of infected citizens.

The ignorance of the disease and how it behaves makes its consequences for the economy unpredictable and that uncertainty is what worries investors, who on Tuesday are showing signs of panic through their reaction in the main European squares. The Italian Ftse Mib is the most affected in these first stages of the session, with a fall that is close to 4%, although closely the rest of the selective follow.

The greatest decreases among the components of the Milanese selective corresponded to Salvatore Ferragamo, with -7.27%, Finecobank, with -6.93%, and Saipem, with -6.79%. Among the representatives of the banking sector, the titles of Intesa Sanpaolo yielded 4.26% at the opening, while the price of Mediobanca fell 4.06% and that of Unicredit fell 3.87%. On the other hand, Generali's shares lost 3.66%.

In Spain, the Ibex 35 is left more than 3% with all its values ​​in negative, although the most affected are those that are linked to tourism or production processes in China. That explains the drop in excess of 7.7% that fits Arcerlor just an hour after the opening or 7.2% of IAG. Meliá leaves almost 7%, too, a little above CIE Automotive (-5%) and Amadeus (-4.5%).

The Cac 40 of Paris and the Dax of Frankfurt also suffer the impact of the doubts and fit in these first moments of quotation a retreat of 3.3%.

The other major affected by the fears of the coronavirus is oil , whose price also recedes at the start of the week. The barrel of Brent, a reference for Europe, continues to move away from the 60 dollars and is around 56 green notes , while the reference Texas in the US is placed at 51 dollars.

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  • Italy
  • Coronavirus

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