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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 +1.57% 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 -2.15%  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 -1.01%  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 +1.45%   shares fell 3.4% as the French insurer reported a profit below expectations on the costs of restructuring.

/zigman2/quotes/210599654/delayed
XX : STOXX
331.80
+5.13 +1.57%
Volume: 0.00
April 9, 2020 5:50p
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/zigman2/quotes/208325626/delayed
IT : Italy: Milan
5.19
-0.11 -2.15%
Volume: 6,691
April 9, 2020 5:35p
P/E Ratio
7.86
Dividend Yield
N/A
Market Cap
€2.22 billion
Rev. per Employee
€328,953
loading...
/zigman2/quotes/200416613/delayed
ES : Spain: Madrid
4.32
-0.04 -1.01%
Volume: 14.65M
April 9, 2020 5:38p
P/E Ratio
23.94
Dividend Yield
7.49%
Market Cap
€22.12 billion
Rev. per Employee
€396,788
loading...
/zigman2/quotes/202169431/delayed
FR : France: Euronext Paris
15.53
+0.22 +1.45%
Volume: 10.56M
April 9, 2020 5:39p
P/E Ratio
10.30
Dividend Yield
9.21%
Market Cap
€37.06 billion
Rev. per Employee
€1.13M
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Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.

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