European, Asian stocks fall following new restrictions in Europe

European, Asian stocks fall following new restrictions in Europe

Picture used for illustrative purpose. File



Gulf Today Report 

European stocks dipped on Wednesday on worries surrounding new restrictions in Europe overshadowing economic growth for the eurozone in March. 

 

The pan-European STOXX 600 index was down 0.2%, after declining by 0.7% in early morning trading. 

 

Eurozone stocks also cut losses after IHS Markit's flash composite PMI bounced above the 50 marks, separating growth from contraction to 52.5 this month compared to February's 48.8.

 

The data was somewhat comforting for investors, however, the third wave of coronavirus and new restrictions in Europe are likely to affect April's numbers. 

 

"COVID management is a bumpy road. We nevertheless think that recovery will be quite strong in the second half of the year," said Michele Morganti, equity strategist at Generali Insurance Asset Management.

 

The European stocks benchmark has pulled away from a one-year peak hit last week after major economies like Germany and France imposed new