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EQUITIES: European markets continue to fall sharply, with peripheral European
equities leading the way as Italy drops over 4%. Italian banks are leading the
way lower in the Italian FTSE-MIB, with the likes of Banca Monte Dei Paschi down
near 7% and UniCredit down 4%. Reports that local Italian officials could be
considering mortgage payment relief as part of a package to combat the economic
effects of the Coronavirus outbreak in Lombardy.
- Airlines and travel agents are also a particular weak spot, with easyJet, TUI
AG, RyanAir and Lufthansa among the biggest intraday fallers so far today.
- Defensive sectors including precious metals miners (e.g. Polymetal
International) are among the only gainers so far Monday given the outperformance
of gold & silver - last seen up 2.3% and 1.5% respectively.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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