European stocks dip on China Covid surge

LONDON: European stock markets opened lower Thursday, mirroring Asian losses, as investors fretted over China’s latest Covid surge.

London’s benchmark FTSE 100 index slid 0.8 percent to 7,435.59 points, compared with Wednesday’s closing level.

In the eurozone, Frankfurt’s DAX index shed 0.3 percent to 13,887.90 points and the Paris CAC 40 lost 0.5 percent to 6,478.57.

The United States has joined a growing number of countries in imposing restrictions on visitors from China after Beijing announced it would remove curbs on overseas travel as Covid cases surge.

European shares end lower

Investors had previously cheered the easing of China’s strict zero-Covid controls – which had hammered the world’s second-largest economy – but are now worried about the impact of the outbreak on global supply chains and inflation.

“Health officials in other countries fear an upsurge in cases tied to Chinese travellers,” said SPI Asset Management analyst Stephen Innes.