European markets lower ahead of ECB stress tests and New York ebola case

 

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The Independent Online

European markets edged lower on Friday as traders await the results of the European Central Bank's stress tests on eurozone banks.

The pan-European STOXX Europe 600 index was down 0.23 per cent in early trading. Germany's DAX and France's CAC 40 fell 0.24 per cent and 0.43 per cent respectively. Spain's IBEX 35 slipped 0.13 per cent.

On Sunday, the results of the ECB's stress tests on the 18-nation bloc's banks will be made public after weeks of speculation. Reports suggest at least 11 of the 130 eurozone banks being tested are set to fail the health check.

 

Investor sentiment was also dampened by a fresh Ebola scare after New York authorities confirmed a doctor had tested positive for the virus. He had returned to New York after treating Ebola patients in West Africa.

On Thursday, mayor Bill de Blasio said city officials had followed "clear and strong" protocols and insisted there is no reason for New Yorkers to be alarmed by the situation. 

In the UK, the FTSE 100 was down 17.17 points, or 0.27 per cent, at 6,401.98. The index was dragged down by supermarket Tesco, extending losses after it reported 92 per cent decline in profits on Thursday.

Chairman Sir Richard Broadbent also announced he would resign, although he did not set a date for his departure, after the supermarket unveiled a bigger-than-expected profit hole of £263 million stretching back three years.

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