Bank, coronavirus news aggravates sentiment

Bank, coronavirus news aggravates sentiment

European stocks fell on Monday, pressing global market sentiment on charges surrounding increased banking transactions and coronavirus infection.

Pan-european Stoxx 600 It fell 2% in initial trading, banks fell 4.5%, travel stocks fell 4.8%, driving losses as all sectors and major securities slipped into the negative zone.

In addition to the recent coronavirus development, investors in Europe will be keeping a close eye on bank stocks on Monday following claims that some are dealing with suspicious funds this weekend.

In asia, Hong Kong-listed Standard Chartered and HSBC stocks plunged Monday following reports of massive shifts of suspicious funds. By Monday afternoon, Standard Chartered’s stock was down 2.69% and HSBC was down 2.91%. At the beginning of the trading day, HSBC’s stock price fell to a 25-year low, according to FactSet.

This move has led banks among several global lenders Confirmed in media coverage It is estimated that it has moved suspicious funds for almost 20 years, according to Reuters. The report cited confidential documents filed by the bank to the US government. HSBC said in a statement to CNBC that “we do not comment on reports of suspicious activity.”

Biggest move

In terms of individual stock price action, Germany’s United Internet lowered its outlook and fell more than 23% in initial trading, and Network International recently fell 21% to extend the slide.

Rolls-Royce fell 10.7% after announcing plans to raise £2.5 billion ($3.24 billion) to strengthen its finances. British Airways’ top IAG continued to decline with another 9.8% drop on Monday morning.

Italy’s Diasorin added 3.2% to the top of the European Excellence Index.

— CNBC.com employees contributed to this market report.

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