Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stock Futures Lower on Lockdown Concerns; Turkey Also in Focus

Stock MarketsMar 22, 2021 03:02AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse 

Investing.com - European stock markets are seen opening lower Monday, weighed by plans for further lockdowns to combat a third wave of Covid-19 cases, while investors also watch events in Turkey closely.

At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.3% lower, CAC 40 futures in France dropped 0.6% and the FTSE 100 futures contract in the U.K. fell 0.3%.

Germany is the latest European country to consider extending restrictive measures, with a draft proposal calling for the current lockdown to be extended into a fifth month. The number of new Covid-19 cases has surged since restrictions were eased three weeks ago. 

The Robert Koch Institute for Infectious Diseases said the number of cases per 100,000 population over a week stood at 103.9 on Sunday, above the 100 threshold at which intensive care units will start running out of capacity. France, Europe's second-largest economy, announced new lockdown measures late last week, resulting in a month-long lockdown in 16 areas of the country, including Paris. 

Adding to the worries, confidence in the safety of AstraZeneca (NASDAQ:AZN)'s vaccine has taken a big hit in Spain, Germany, France and Italy, according to a YouGov survey published Monday, after these countries briefly stopped using it on reports of rare blood clots. The European Medicines Agency regulator said in a preliminary safety review on Thursday that the vaccine was safe and effective. AstraZeneca released data from its U.S. trial earlier, showing that its vaccine was 79% effective in preventing the disease, and 100% successful in preventing hospitalization and death across a sample of 30,000 volunteers.

A European Union summit due to take place later this week in Brussels will now be held via video conference.

Also of interest will be events in Turkey following President Recep Tayyip Erdogan’s surprise decision over the weekend to replace the hawkish central bank governor Naci Agbal with Sahap Kavcioglu. 

The move came two days after a sharp rate hike aimed at controlling inflation near 16% and supporting the lira, and has since seen the Turkish currency weaken almost 12% against the dollar, the sharpest move since August 2018.

In the corporate sector, the battle between Suez (PA:SEVI) and Veolia Environnement (PA:VIE) over how to carve up Suez's business took another turn on Sunday, with investment funds Ardian and Global Infrastructure Partners offering 11.9 billion euros ($14.2 billion) for parts of Suez’s business. 

Earnings are due from Kingfisher (LON:KGF), while Julius Baer (SIX:BAER) and Lonza (SIX:LONN) both publish annual reports. 

Also in focus will be mining stocks, after new anti-pollution measures in China sent iron ore futures tumblling.

Oil prices edged lower Monday, continuing the recent selloff as the fresh lockdowns in Europe increased worries about the speed of recovery of global demand for the commodity.

U.S. crude futures traded 0.9% lower at $60.91 a barrel, while the Brent contract fell 0.9% to $63.97. Both contracts fell by more than 6% last week.

Elsewhere, gold futures fell 0.8% to $1,728.25/oz, while EUR/USD traded 0.2% lower at 1.1875.

 

European Stock Futures Lower on Lockdown Concerns; Turkey Also in Focus
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Ramesh Shah
Ramesh Shah Mar 22, 2021 4:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dollar is 2nd best, Bitcoin rules
President Xi Jinping
President Xi Jinping Mar 22, 2021 4:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lmao. You cAnt buy bitcoin without a dollar
Jo Riley
Jo Riley Mar 22, 2021 4:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lockdowns: one of the biggest scams of the century.  Interesting that in poorer countries (the ones that "wise" elites forecast to have terrible problems with the CCP virus) there aren't lockdowns and little problems with the CCP virus.
Jokers R Us
Jokers R Us Mar 22, 2021 4:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Looks like another Fed induced great depression is on the horizon..
Biji Rajaku
Biji Rajaku Mar 22, 2021 4:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Whatever the reason, everything is in underwear and controlled...
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email