European shares dip as corporate pain from coronavirus outbreak grows [Reuters]
ZURICH INS GROUP S/ADR (ZURVY)
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Source: Reuters
European shares dip as corporate pain from coronavirus outbreak grows (For a live blog on European stocks, type LIVE/ in an Eikon news window) April 3 (Reuters) - European stock markets headed lower on Friday, erasing meagre gains for the week, as more companies flagged a hit to business from the coronavirus pandemic, foreshadowing a deeper earnings recession ahead of the reporting season. The pan-European STOXX 600 index was down 0.2% at 0705 GMT, with energy stocks tracking a slide in oil prices as investors grew doubtful about a Saudi-Russia deal that U.S. President Donald Trump said he had brokered. Zurich Insurance Group AG, AXA SA, Munich Re and Prudential fell between 1.9% and 4.2% after the European Union’s insurance regulator asked insurers and reinsurers to temporarily suspend dividends and share buybacks. With the virus still spreading rapidly in Europe and prompting further halts in business activity, analysts have slashed earnings estimates for the second and third quarte
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