{"id":19247,"date":"2022-03-04T09:42:11","date_gmt":"2022-03-04T09:42:11","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/03\/04\/european-shares-plunge-as-ukraine-crisis-deepens\/"},"modified":"2022-03-04T09:42:11","modified_gmt":"2022-03-04T09:42:11","slug":"european-shares-plunge-as-ukraine-crisis-deepens","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/03\/04\/european-shares-plunge-as-ukraine-crisis-deepens\/","title":{"rendered":"European Shares Plunge As Ukraine Crisis Deepens"},"content":{"rendered":"
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European stocks fell sharply on Friday and were on course for their third consecutive week of declines after Russia took control of Europe’s biggest nuclear power plant.<\/p>\n

As Russia’s offensive in Ukraine entered the ninth day, Russian forces have seized Ukraine’s Zaporizhzhia nuclear power plant after intense fighting during which shelling caused a fire to break out at a training facility on the site.<\/p>\n

The pan European Stoxx 600 fell 2.1 percent to 428.35 after plummeting 2 percent on Thursday. <\/p>\n

The German DAX lost 2.8 percent, France’s CAC 40 index shed 2.9 percent and the U.K.’s FTSE 100 was down 2.6 percent.<\/p>\n

ArcelorMittal declined 3.7 percent. The company said it has halted its steelmaking operations in Kryvyi Rih, Ukraine to ensure the safety and security of its people and assets.<\/p>\n

British media firm ITV lost over 8 percent after announcing it would launch a revamped streaming service.<\/p>\n

Murray International dropped 1 percent. The investment trust reported return before taxation of 204.87 million pounds for the full year, significantly higher than 2.74 million pounds in the previous year.<\/p>\n

Dassault Aviation SA shares rose about 1 percent in Paris. The aircraft manufacturer reported that its fiscal 2021 profit doubled from last year amid strong revenue growth as well as higher order intake.<\/p>\n

Michelin slumped 5.5 percent. The tyre maker said it would temporarily halt production at some of its plants in Europe due to significant supply-chain issues.<\/p>\n

In economic releases, German exports were down 2.8 percent month-on-month, reversing a 1.2 percent rise in December, Destatis reported. Shipments were expected to climb 1.0 percent.<\/p>\n

Likewise, imports decreased 4.2 percent, in contrast to the 4 percent increase a month ago. Economists had forecast a monthly growth of 2.0 percent.<\/p>\n

French industrial output rose 1.6 percent month-on-month, in contrast to the 0.1 percent fall in December, figures from the statistical office Insee revealed. <\/p>\n

This was the first increase in three months and exceeded the expected rate of 0.5 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n