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Europe shares slump ahead of PMI data

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  2. Europe shares slump ahead of PMI data

21 May 2020

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Europe shares slump ahead of PMI data

(Reuters) – European stocks fell Europe shares slump on Thursday as investors prepared for the latest set of corporate activity data that will highlight the blow the eurozone economy has received from comprehensive public isolation measures imposed to curb the spread of the Coronavirus.

Europe shares slump

The pan-European STOXX 600 index fell 0.9 percent by 0708 GMT, reversing from the strongest close in three weeks.
Investors are awaiting the publication of IHS Market’s reading of May and manufacturing activities. The numbers are expected to rebound after hitting a low in April.
Among the stocks, Amsterdam-based Altes Europe Group, a telecom, and cable company fell 7.4 percent, while announcing first-quarter core earnings worse than expected.

Lufthansa shares rose 3.8 percent in light of talks with the German government on a rescue deal worth up to 9 billion euros (9.9 billion euros), including the state obtaining a 20 percent stake.

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Technical Economic Consulting Company was established in 2012, it was established by a team of investment professionals to become one of the leading investment companies to provide the best management consulting services to local international companies and institutions. Since its inception, the company has continuously expanded to become one of the largest leading consulting firms in the region through its branches located in the Arab world as well as representative offices in Europe.

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