Iran Press/Europe: European stocks have reversed Monday morning's gains to drop once more as an increasingly bleak economic picture outweighs optimism over the prospect of central bank easing.
The continent wide Stoxx Europe 600 was down 1 percent, having risen as much as 2.3 percent earlier in the morning of Monday 2 March. The decline followed a warning by the OECD, the Paris-based club of mostly rich nations, that global economic growth could halve this year from its previous forecast should the Coronavirus outbreak persist.
European equities had initially rallied this morning, following a positive session in Asia, after the Bank of Japan followed the US Federal Reserve with a vow to fight the Coronavirus. The FTSE 100 was recently up 0.2 percent, while in Frankfurt the Dax was down 1.5 percent and the Cac40 in Paris was 1.4 percent lower.
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