Suspicious Funds, Coronavirus, and Investor Sentiment

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Suspicious Funds, Coronavirus, and Investor Sentiment

The coronavirus pandemic continues to affect investor sentiment for more than six months. According to the government’s top scientists, the U.K. could expect to see almost 50’000 new cases per day in mid-October without measures.

Interestingly, shares of  Germany’s United Internet fell on Monday. Notably, the United Internet lowered its outlook and this decision affected its shares.

Also, Rolls-Royce dropped 10.8% after announcing plans to raise $3.24 billion to strengthen its finances. Moreover, the shares of the parent company of British Airways, IAG declined on Monday.

Stocks and investor sentiment

Banks and market sentiment

It is worth mentioning that, European stocks fell on September 21 as allegations surrounding bank dealings and coronavirus cases affected the investor sentiment.

The pan-European Stoxx 600 dropped more than 3.2% provisionally, with banks plunging 5.7% and travel stocks tumbling 5.2%.

Germany’s DAX declined 537.81 or 4.37% to 12542’44. Also, the French CAC 40 index fell 186.14 points or 3.74% to 4792’04. Moreover, U.K’s FTSE 100 dropped 202.76 points or 3.38% to 5804’29.

Investors are closely monitoring the situation regarding the coronavirus pandemic. They would like to learn more about the latest coronavirus developments.

Also, investors kept a close eye on the bank shares following allegations this weekend.

Notably, Hong Kong-listed shares of Standard Chartered and HSBC declined on September 21, following reports that Standard Chartered and HSBC allegedly moved large sums of suspicious funds.

Let’s get back to Europe. London-listed shares of Standard Chartered plunged and HSBC fell on Monday. Interestingly, earlier in the trading day, shares of HSBC fell to a more than 25-year low.

Interestingly, several global lenders allegedly moved suspicious funds over a period of nearly two decades. Notably, the reports cited confidential documents submitted by banks to the U.S. government. Money laundering remains one of the major challenges for authorities as well as banks around the world.

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