Monday, January 24, 2022

The defense sector is driving European stocks down

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January 13 () – European stocks fell on Thursday due to defense and travel stocks, due to the steady increase in COVID-19 cases globally due to the Omicron option and concerns about a tighter monetary policy environment.

Pan-European STOXX 600 GMT fell 0.2% as of 0825, with health, food and beverage and travel stocks declining.

German Chancellor Olaf Scholz has demanded a mandatory COVID-19 vaccine for all adults, while the French Senate has approved new measures to combat the virus, including a vaccine ticket.

SMA Solar Technology, Germany’s largest solar group, fell 7.7 percent after the second forecast for 2021 fell.

Food ingredients manufacturer Chr Hansen grew 4.6% quarterly after reporting higher-than-expected growth in organic revenue.

Swiss firm Geberit fell 2.3 percent as rising uncertainty made it impossible to make a 2022 forecast on raw material prices or the construction market as a whole. (Anisha Sirkar’s interview in Bangalore; edited by Shounak Dasgupta)

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