Bulletin
Investor Alert

New York Markets After Hours

Europe Markets Archives | Email alerts

Jan. 24, 2022, 11:40 a.m. EST

European stocks smashed in worst trading day in 19 months

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    STOXX Europe 600 Index (SXXP)
  • X
    Orpea S.A. (ORP)
  • X
    Zur Rose Group AG (ROSE)

or Cancel Already have a watchlist? Log In

By Steve Goldstein

European stocks on Monday were engulfed in red, suffering their worst single day of trade in three months.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.02% dropped 3.8% to 456,40, with all of the major sector indexes losing ground. That was the worst single-day drop since June 11, 2020.

Double-digit declines were seen for companies including French care homes company Orpea /zigman2/quotes/204431094/delayed FR:ORP -2.37% , Swiss e-pharmacy provider Zur Rose /zigman2/quotes/205626361/delayed CH:ROSE +5.72% and Irish construction materials company Kingspan /zigman2/quotes/200640650/delayed IE:KRX +1.05% .

The German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.23% and French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.14% each declined nearly 4%, and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.0088% fell by nearly 3%.

“The poor start to the week comes hot on the heels of a rather bearish week for risk assets. Investors have not been impressed by the results of U.S. bank earnings in the fourth quarter, while on a more macro level, concerns about policy tightening from the Fed and high levels of inflation around the world have also weighed heavily on risk appetite,” said Renne Friedman, senior economist at Exante.

Despite a smaller weighting toward technology and other growth sectors, European stocks haven’t been much of a refuge, sliding over 6% this year as the U.S. S&P 500 /zigman2/quotes/210599714/realtime SPX +1.06% has dropped 10%.

Russian stocks /zigman2/quotes/210597950/delayed RU:RTS -5.83% collapsed on Monday after the State Department ordered families of diplomats to leave Ukraine, a sign of a possible war breaking out. The U.S. and European allies have said they would retaliate for an invasion with sanctions.

There were a handful of gainers. Accell /zigman2/quotes/202567020/delayed NL:ACCEL -0.26% shares surged 25% to €57.50 after a KKR-led consortium agreed to pay €58 per share, or €1.6 billion in cash for the maker of Raleigh bicycles.

Vodafone /zigman2/quotes/202484985/delayed UK:VOD +0.55% /zigman2/quotes/202862751/composite VOD +0.19% shares rallied 4% on speculation of tie-ups with Three in the U.K. and Iliad in Italy.

Unilever /zigman2/quotes/205449809/delayed UK:ULVR +2.12% /zigman2/quotes/204685760/composite UL +1.00% shares rallied 7% after The Wall Street Journal reported that activist investor Nelson Peltz took a stake after an attempt to buy GlaxoSmithKline’s /zigman2/quotes/200381158/delayed UK:GSK +1.13% consumer health unit quickly fizzled.

/zigman2/quotes/210599654/delayed
XX : STOXX
407.13
-0.07 -0.02%
Volume: 0.00
July 1, 2022 5:50p
loading...
/zigman2/quotes/204431094/delayed
FR : France: Euronext Paris
22.69
-0.55 -2.37%
Volume: 337,907
July 1, 2022 5:35p
P/E Ratio
8.19
Dividend Yield
0.00%
Market Cap
€1.50 billion
Rev. per Employee
€62,480
loading...
/zigman2/quotes/205626361/delayed
CH : Switzerland: SWX
CHF 75.75
+4.10 +5.72%
Volume: 153,748
July 1, 2022 5:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
CHF745.94 million
Rev. per Employee
CHF810,184
loading...
/zigman2/quotes/200640650/delayed
IE : Ireland: Dublin
58.00
+0.60 +1.05%
Volume: 349,603
July 1, 2022 4:30p
P/E Ratio
19.15
Dividend Yield
0.79%
Market Cap
€10.43 billion
Rev. per Employee
€341,947
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
12,813.03
+29.26 +0.23%
Volume: 80,285
July 1, 2022 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,931.06
+8.20 +0.14%
Volume: 72,811
July 1, 2022 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,168.65
-0.63 -0.0088%
Volume: 617,585
July 1, 2022 4:55p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,825.33
+39.95 +1.06%
Volume: 2.17B
July 1, 2022 4:17p
loading...
/zigman2/quotes/210597950/delayed
RU : Moscow Exchange
1,017.01
-62.98 -5.83%
Volume: 0.00
April 11, 2022 6:07p
loading...
/zigman2/quotes/202567020/delayed
NL : Netherlands: Euronext Amsterdam
57.45
-0.15 -0.26%
Volume: 6,033
July 1, 2022 5:35p
P/E Ratio
22.08
Dividend Yield
0.00%
Market Cap
€1.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202484985/delayed
UK : U.K.: London
127.36 p
+0.70 +0.55%
Volume: 43.19M
July 1, 2022 4:35p
P/E Ratio
20.58
Dividend Yield
6.12%
Market Cap
£35.54 billion
Rev. per Employee
£372,665
loading...
/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 15.61
+0.03 +0.19%
Volume: 4.62M
July 1, 2022 4:00p
P/E Ratio
18.47
Dividend Yield
6.07%
Market Cap
$43.16 billion
Rev. per Employee
$509,004
loading...
/zigman2/quotes/205449809/delayed
UK : U.K.: London
3,800.00 p
+79.00 +2.12%
Volume: 2.78M
July 1, 2022 4:35p
P/E Ratio
19.06
Dividend Yield
3.81%
Market Cap
£94.62 billion
Rev. per Employee
£304,541
loading...
/zigman2/quotes/204685760/composite
US : U.S.: NYSE
$ 46.29
+0.46 +1.00%
Volume: 3.51M
July 1, 2022 4:00p
P/E Ratio
16.88
Dividend Yield
3.95%
Market Cap
$114.92 billion
Rev. per Employee
$418,837
loading...
/zigman2/quotes/200381158/delayed
UK : U.K.: London
£ 1,785.60
+20.00 +1.13%
Volume: 6.00M
July 1, 2022 4:35p
P/E Ratio
17.69
Dividend Yield
N/A
Market Cap
£89.34 billion
Rev. per Employee
£404,857
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.