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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 +0.02% 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 -5.43%  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 -1.47%  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 +0.61%   shares fell 3.4% as the French insurer reported a profit below expectations on the costs of restructuring.

/zigman2/quotes/210599654/delayed
XX : STOXX
393.29
+0.06 +0.02%
Volume: 0.00
Nov. 30, 2020 2:37p
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/zigman2/quotes/208325626/delayed
IT : Italy: Milan
5.15
-0.30 -5.43%
Volume: 144,539
Nov. 30, 2020 2:21p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
€2.31 billion
Rev. per Employee
€300,799
loading...
/zigman2/quotes/200416613/delayed
ES : Spain: Madrid
3.68
-0.06 -1.47%
Volume: 5.79M
Nov. 30, 2020 2:37p
P/E Ratio
68.42
Dividend Yield
8.80%
Market Cap
€19.62 billion
Rev. per Employee
€425,430
loading...
/zigman2/quotes/202169431/delayed
FR : France: Euronext Paris
19.85
+0.12 +0.61%
Volume: 2.43M
Nov. 30, 2020 2:37p
P/E Ratio
17.29
Dividend Yield
3.68%
Market Cap
€47.03 billion
Rev. per Employee
€1.13M
loading...

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

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