Losses for European stocks

Business | 22 Jan 2021 8:43 pm

European markets pulled back Friday morning as investors monitored coronavirus restrictions and new economic data out of the euro zone.

The pan-European Stoxx 600 dropped 0.7 percent in early trade, with travel and leisure stocks shedding 1.9 percent to lead losses as all sectors and major bourses slid into negative territory.

Business activity in the euro zone fell to a two-month low in January, preliminary data showed on Friday, on the back of stricter coronavirus-related lockdowns. Markit’s flash composite PMI, which looks at activity across both manufacturing and services, dropped to 47.5 January from 49.1 in December, with a reading below 50 representing a contraction in activity.



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