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Feb. 20, 2020, 6:36 a.m. EST

European stocks weaken on new coronavirus concerns

Air France-KLM, Telefónica and AXA shares fall

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By Steve Goldstein, MarketWatch


Associated Press
Workers wearing protective gears spray disinfectant against the new coronavirus disease in front of a church in Daegu, South Korea, Feb. 20, 2020.

European stocks took a step back on Thursday, with the impact of the coronavirus outbreak again proving a headwind.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +0.29% slipped 0.3% as China for a second time revised how it counts daily infections, while South Korea told 2.5 million people to stay home after reporting its first death.

Air France-KLM /zigman2/quotes/208325626/delayed IT:AF -1.33%  shares dropped 4.6% as the airline said the virus impact will cost the airline from 150 million to 200 million euros through April.

Telefónica /zigman2/quotes/200416613/delayed ES:TEF +1.17%  shares dropped 3.8% as the Spanish telecom giant swung to a loss after pulling out of some Latin American markets and selling 10 data centers.

AXA /zigman2/quotes/202169431/delayed FR:CS 0.00%   shares fell 3.4% as the French insurer reported a profit below expectations on the costs of restructuring.

/zigman2/quotes/210599654/delayed
XX : STOXX
363.55
+1.06 +0.29%
Volume: 0.00
Aug. 7, 2020 11:03p
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/zigman2/quotes/208325626/delayed
IT : Italy: Milan
3.85
-0.05 -1.33%
Volume: 16,257
Aug. 7, 2020 5:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
€1.64 billion
Rev. per Employee
€328,953
loading...
/zigman2/quotes/200416613/delayed
ES : Spain: Madrid
3.47
+0.04 +1.17%
Volume: 15.47M
Aug. 7, 2020 5:38p
P/E Ratio
N/A
Dividend Yield
9.33%
Market Cap
€18.40 billion
Rev. per Employee
€396,788
loading...
/zigman2/quotes/202169431/delayed
FR : France: Euronext Paris
17.03
0.00 0.00%
Volume: 5.90M
Aug. 7, 2020 5:37p
P/E Ratio
14.83
Dividend Yield
4.29%
Market Cap
€40.59 billion
Rev. per Employee
€1.13M
loading...

Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.

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