!-- 634c7aa55dca3b282b7c80846a1dd8060284ae7f -->

European equities are recording lower price flows due to concerns about slow recovery and second wave of corona virus

A general view of Shell Petroleum’s refinery at Pulau Bukom near Singapore is shown on July 16, 2020. (Photo by Roslan RAHMAN / AFP) (Photo by ROSLAN RAHMAN / AFP via Getty Images)

roslan rahman / Agence France-Presse / Getty Images

European equities traded lower on the busiest day of the second-quarter earnings season on Thursday, with concerns about a slow economic recovery and a possible second wave of the corona virus.

The Stoxx Europe 600 SXXP,
decreased by 0.7% in early action. US equity futures ES00,
fell sharply when European stock markets opened.

Traders looked at the US economy, where once again Federal Reserve Chairman Jerome Powell said the central bank did not even “think about” raising interest rates, as gross domestic product numbers in the second quarter are expected to show an annual decline of 35% when they are released at 8:30 AM Eastern.

British Prime Minister Boris Johnson fears a second wave of coronavirus in two weeks, the Daily Mail reported, citing a source on Downing Street.

The profit season continues on both sides of the Atlantic. Earnings per share for Stoxx Europe 600 companies fell 42% in the second quarter, according to data from FactSet Research on the 40% of results to date.

Anheuser-Busch InBev ABI,
+ 7.36%
+ 1.90%
equities were up 8% as second-quarter earnings fell below estimates following a downgrade in African activities, but sales declines were not as strong as estimated due to Latin American and Asian activities.

Lloyds Banking Group LLOY,
decreased by 6% after an unexpected pre-tax loss for the first half of 2020 when a large impairment was recorded.

Royal Dutch Shell RDSA,
+ 0.13%
took a write-off of $ 16.8 billion and said that due to the slowdown in contracts, the impact of low oil prices is expected to increase in the third quarter, and rival Total FP,
+ 1.09%
took $ 8.1 billion in impairments, but both oil producers moved higher.

AstraZeneca AZN,
+ 2.87%
rose 2.5% when the British pharmaceutical giant reported that net profit skyrocketed in the second quarter and said late trials are underway with the coronavirus vaccine it is developing with researchers at the University of Oxford.

There will also be a series of US gains on Thursday, with major tech companies Alphabet, Amazon.com, Apple and Facebook all reporting after the close of trading.