European luxury stocks blasted over virus worries as UBS hit by lowered guidance – MarketWatch

27
120
European luxury stocks blasted over virus worries as UBS hit by lowered guidance – MarketWatch

European stocks slumped on Tuesday as worries over a spreading virus in China as well as weak guidance from Swiss banking giant UBS weighed.

The Stoxx Europe 600

SXXP, -0.41%

 declined 0.75% to 420.79, with declines from luxury-goods producers that rely on Asia for demand. LVMH Moet Hennessy Louis Vuitton

MC, -2.49%

 , Burberry Group

BRBY, -2.68%

  and Compagnie Financiere Richemont

CFR, -2.76%

 each fell over 3%.

U.S. stock futures

ES00, -0.28%

  also were lower as American traders returned from the three-day break.

More than 200 people have been infected by a new coronavirus outbreak, and four have died, which a Chinese government official said can be spread from human to human. The spreading virus is reminiscent of the SARS outbreak in 2002 and 2003.

Of stocks in the spotlight, UBS shares

UBSG, -5.35%

UBS, -0.45%

  fell 5% on the Swiss banking giant’s downbeat guidance even as fourth-quarter results beat analyst estimates.

UBS forecast a cost-to-income ratio between 75% and 78% in 2022, versus guidance of 72% by the end of 2021. UBS also targeted a return on capital between 12% and 15% between 2020 and 2022, against a previous target of 17% through 2021.

EasyJet

EZJ, +4.31%

 shares rose 4.7% as the budget airline expects to narrow its first-half loss before tax and said its first-half revenue per seat at constant currencies will grow mid-to-high single digits, versus a previous expectation of low-to-mid-single-digit growth. Fiscal first-quarter revenue rose 9.9% to £1.425 billion.

The airline said it benefited from the collapse of rival Thomas Cook in September.

27 COMMENTS

  1. I was curious if you ever thought of changing the layout of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or 2 images. Maybe you could space it out better?

  2. I was recommended this website by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my trouble. You’re wonderful! Thanks!

  3. Fantastic goods from you, man. I’ve understand your stuff previous to and you are just too wonderful. I really like what you have acquired here, really like what you are stating and the way in which you say it. You make it enjoyable and you still take care of to keep it sensible. I can’t wait to read far more from you. This is really a terrific web site.

  4. I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to design my own blog and would like to know where u got this from. kudos

  5. Hello there, just became alert to your blog through Google, and found that it’s truly informative.
    I am going to watch out for brussels. I’ll be grateful if you continue this in future.
    Numerous people will be benefited from your writing. Cheers!

  6. I?¦ve been exploring for a little bit for any high-quality articles or weblog posts in this sort of area . Exploring in Yahoo I at last stumbled upon this website. Reading this info So i?¦m happy to convey that I’ve an incredibly excellent uncanny feeling I found out exactly what I needed. I most certainly will make sure to do not fail to remember this site and give it a look regularly.

  7. Hi, Neat post. There’s a problem with your web site in internet explorer, would test this… IE still is the market leader and a big portion of people will miss your great writing due to this problem.

  8. Thanks for every other informative website. The place else may I am getting that kind of info written in such an ideal means? I have a project that I am simply now working on, and I’ve been on the glance out for such info.

  9. Good – I should certainly pronounce, impressed with your website. I had no trouble navigating through all tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Excellent task.

  10. Pretty nice post. I just stumbled upon your weblog and wanted to say that I’ve truly enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!

  11. Have you ever thought about publishing an e-book or guest authoring on other sites? I have a blog centered on the same ideas you discuss and would really like to have you share some stories/information. I know my subscribers would enjoy your work. If you’re even remotely interested, feel free to send me an e mail.

LEAVE A REPLY

Please enter your comment!
Please enter your name here