MAR

European stocks steady after sell-off, travel sector hit again

Credit: REUTERS/STAFF

European stocks stabilised on Tuesday after a sell-off in the previous session, as technology and healthcare stocks gained, but worries about new coronavirus restrictions in Britain and elsewhere kept travel stocks under pressure.

For a live blog on European stocks, type LIVE/ in an Eikon news window

Sept 22 (Reuters) - European stocks stabilised on Tuesday after a sell-off in the previous session, as technology and healthcare stocks gained, but worries about new coronavirus restrictions in Britain and elsewhere kept travel stocks under pressure.

The pan-European STOXX 600 index .STOXX rose 0.5% by 0716 GMT, holding ground after its worst session in three months. The technology sector .SX8P, which has outperformed this year, rose 1.5%, while healthcare stocks .SXDP were up 0.6%.

With COVID-19 cases rising rapidly in the UK, Prime Minister Boris Johnson is set to announce fresh restrictions that includes closing of pubs, bars, restaurants and other hospitality venues at 10 p.m. across England.

Pub owners JD Wetherspoon JDW.L, Mitchells & Butlers MAB.L and Marston's MAR.L fell between 1.2% and 3.6%.

Premier Inn-owner Whitbread WTB.L slipped 2.8% after saying it plans to cut 6,000 jobs in its hotel and restaurant units, as the pandemic hammers the travel and hospitality sectors.

Travel & leisure stocks .SXTP fell 0.7% after a 5.2% drop in the previous session, while banks .SX7P were down 0.3%, adding to a 5.7% slump.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MAR

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More