Dow closes more than 150 points lower amid increasing fears of new lockdown measures; European stocks close higher as Brexit trade deal talks continue; AstraZeneca down 6%; Standard & Poor’s affirms Serbia’s rating at BB+, with a stable outlook
The Dow Jones Industrial Average and S&P 500 fell on Monday as fears of additional Covid-19 restrictions offset the optimism around a vaccine rollout. The 30-stock Dow closed lower by 184.82 points, or 0.6%, at 29,861.55. At its session high, the Dow was up more than 200 points and hit an all-time high. The S&P 500 declined by 0.4% to 3,647.49, posting its first four-day winning streak since Sept. 21. The Nasdaq Composite outperformed, rising 0.5% to 12,440.04.
Shares of companies that would benefit from the economy reopening lagged companies that thrived early on in the pandemic. United Airlines dropped 3.4%. Amazon, meanwhile, popped 1.3%.
The pan-European Stoxx 600 closed up over 0.4%, with banks climbing 1.5% to lead gains as most sectors and major bourses remained in positive territory. The U.K.’s FTSE 100, however, dipped 0.2%.
In terms of individual share price action, Natwest, Lloyds and Barclays all climbed more than 4% amid a broad rally for British banks on the back of ongoing Brexit talks.
Toward the bottom of the European blue chip index, AstraZeneca shares dropped nearly 6% after the announcement that the pharmaceutical giant had bought out Alexion Pharmaceuticals for $39 billion.
BELEX15 was up 0.61% as Belgrade Airport and NIS were up 3.2% and 1.3%, respectively. The most active name was Komercijalna Banka, with RSD 2.9m in volume.
Standard & Poor’s has affirmed Serbia’s long-term foreign and local currency sovereign credit rating at BB+, with a stable outlook. The Agency states that its decision is supported by the fact that Serbia entered the pandemic with much better overall macroeconomic indicators. The key factor is the preservation of price, financial and fiscal stability, and relative stability of the exchange rate, ensured by the NBS and the Government.
Source: CNBC, Ilirika