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European Shares Seen Lower After Apple Warning

marketopen 011519 18feb20 lt

European stocks look set to open lower on Tuesday after iPhone maker Apple warned that its quarterly sales would miss forecasts due to production delays caused by the coronavirus outbreak.

Asian markets remain mostly lower, with Japanese stocks hitting a two-week low as investors remained concerned about the widening fallout from the epidemic.

Health officials in China published the first details on nearly 45,000 cases of coronavirus infection, saying more than 80 percent cases have been mild and new ones seem to be falling since early this month.

Separately, the World Health Organization (WHO) said that - with a mortality rate of around 2 percent -- COVID-19 was "less deadly" than other coronaviruses such as Severe Acute Respiratory Syndrome (SARS) or Middle East Respiratory Syndrome (MERS).

Oil prices slipped, gold hit a two-week high and the Japanese yen is drawing bids as risk-off mood continues. The British pound held a decline after Prime Minister Boris Johnson's envoy attacked the European Union's stance ahead of trade talks.

U.S. markets were closed Monday for the President's Day federal holiday.

European markets closed higher after China's central bank announced fresh policy measures to counter the economic impact from the coronavirus outbreak.

The pan-European Stoxx 600 hit a record high before ending 0.3 percent higher. The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 all rose around 0.3 percent.

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