BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended weak on Monday as reports showing a surge in coronavirus in the U.S. and marked spikes in new cases in several parts across the globe weighed on sentiment.
The pan European Stoxx 600 ended down 0.76%. Among the major indices in Europe, the U.K.'s FTSE 100 declined 0.76%, Germany's DAX slid 0.55% and France's CAC 40 shed 0.62%, while Switzerland's SMI closed lower by 1.12%.
Among other markets in Europe, Austria, Denmark, Ireland, Netherlands, Norway, Poland, Portugal, Spain and Sweden settled weak.
Belgium, Greece, Russia and Turkey closed higher, while Czech Republic ended flat.
In the U.K. market, Carnival tumbled more than 10%. IAG, Rolls-Royce Holdings, TUI, Diageo, Glencore, Aveva Group, HSBC Holdings, 3i Group and Prudential lost 2 to 5%.
On the other hand, Ocado Group, Fresnillo, Kingfisher, J. Sainsbury, Morrison Supermarkets, Tesco and Berkeley Group gained 2.5 to 5%.
In France, Technip shares plunged more than 6%. Sodexo shed about 3.8% and Danone declined 3.1%. Publicis Groupe, Airbus, STMicroElectronics and Bouygues lost 1.4 to 2.4%.
Peugeot rallied more than 3.5%. Valeo, Carrefour and Michelin gained 3.3%, 3% and 2%, respectively
In the German market, Wirecard plummeted more than 45%, extending recent losses, after the scandal-hit payment firm withdrew its preliminary results for the financial year 2019 and the first quarter of 2020, saying that the missing 1.9 billion euros of cash on its balance sheet probably does not exist.
Thyssenkrupp declined 6.5% and Deutsche Telekom lost 4.2%, while Lufthansa ended 3.1% down, while RWE and Continental closed on a firm note.
According to the monthly report from Bundesbank, the German economy is set to contract significantly in the current quarter and much more than the rate reported in the first quarter. The report says Germany's gross domestic product will fall around 10% in the second quarter.
The largest euro area economy had contracted 2.2% in the first quarter, which was the biggest fall since the first quarter of 2009 and the second largest since the German unification.
The economic stimulus package announced by the government should boost the recovery but it will hardly have any effect in the second quarter, the bank said.
The package has helped to lift sentiment among businesses and consumers, the bank noted.
According to the World Health Organization, more than 183,000 new coronavirus infections were reported globally on Sunday, the biggest single-day increase since the outbreak began.
Brazil has become a major coronavirus hotspot in recent weeks and led the spike in new infections with 54,771 new cases.
The U.S. was next with 36,617 new cases as states in the South, West and Midwest see surges in new infections following recent reopening.
During his speech in Tulsa, Oklahoma, on Saturday, President Donald Trump blamed the jump in new cases on increased testing and suggested he would like to see testing slowed down.
Copyright RTT News/dpa-AFX