Overnight Market Brief – 20 September 2021
European stocks fell on Friday, capping their third straight week in the red as the basic resources sector was hit by declines in Anglo American, but news that Britain was mulling easing travel restrictions boosted airlines and hotel groups. Anglo American tumbled 8.1% after Morgan Stanley and UBS downgraded the stock. The European mining index was also hit by worries about slowing growth in China, falling nearly 8% for the week. London’s miner-heavy FTSE 100 index shed 0.9%, while German stocks fell 1.0%. Meanwhile, after closing up 3.4% on Thursday in one of the best single-day performances this year, the European travel and leisure index added 1.2%. The index closed 2.7% higher for week, leading gains across European sectors. Data showed British retail sales unexpectedly fell again in August in what is now a record streak of monthly declines.