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LAST UPDATE: 16:35
The major stock indices in Old Epirus are falling sharply, as information about an international money laundering banking scandal, as well as the continuing and growing spread of the coronavirus, puts negative pressure and “burden” on the investment climate.
The pan-European index Stoxx 600 registers losses of 2.67%, with the other pan-European index, Eurostoxx 50, with the “heavy papers” of the euro zone, falling 3%. The banking sector is “diving” 4.5%, while losses are led by the particularly sensitive to the possibility of a new blocked travel and leisure sector, with -4.7%.
The German DAX falls 3.22%, the French CAC by 2.92% and the British FTSE 100 registers a fall of 2.93%.
In southern Europe, the Italian FTSE MIB “loses” 2.92%, while the Spanish IBEX 35 “loses” 2.80%.
“I think investors are clearly showing nervousness about the risk of a second general lockdown,” Jane Shoemake, Janus Henderson, Reuters chief investment officer, told Reuters.
Significant losses were recorded in European markets following news of astronomical amounts of dirty money being laundered across institutions’ desks.
In addition to developments from the coronavirus front, the issue of money laundering from banking institutions is also in the focus of investors.
Specific astronomical amounts of dirty money have been circulating and laundering for years through the world’s largest banking institutions, according to an international survey by the International Consortium of Investigative Journalists conducted by 108 international media outlets in 88 countries.
The investigation is based on thousands of “suspicious activity reports” (SAR) to the US Treasury Financial Crime Network, FinCen, from banks around the world.
Negative trends were previously recorded in Asia. Shares of Standard Chartered and HSBC also fell 2.69% and 2.91%, respectively. HSBC shares have previously hit a 25-year low, according to FactSet.
The stock slump took place as Reuters writes, the two banks, among others, are said to have transferred dubious funds over a period of nearly two decades. The reports cite confidential documents submitted by the banks to the US government.
On the coronavirus front, the World Health Organization warned on Friday that the coronavirus did not “go away” and that it continued to kill nearly 50,000 people a week.
At the individual stock level, Germany’s United Internet plunges more than 25%, following a review of its outlook in the hands, while Network International’s stake falls 20%, expanding its recent losses.
Rolls-Royce shares plunged 8.2% after announcing that it was looking for 2 2.5 billion capital to strengthen its financial position. British Airways parent company IAG continues to decline, today losing 12.7%, leading losses in the travel and leisure industry.
The German transport company HelloFresh, on the other side of the European general index, gains 4.5%, in the context of the possibility of new blockages.
