Europe open: Shares lower on news Trump, wife contract Covid-19

European stocks opened lower Friday on news that US President Donald Trump and his wife Melania had contracted Covid-19.

The pan-European Stoxx 600 index was down 0.8% in early trade as Dow Jones futures fell 282 points having been down 500 at one stage. All major bourses were lower on the news from Washington, which was confirmed by Trump on social media at 0600 BST.

"Investors are running for safety as there is exuberance of volatility. The gold price has shot above the $1,900 mark, and investors are favoring risk-off assets," said Naeem Aslam at Avatrade.

"The biggest question for investors and traders is how this situation is going to impact the Trump’s presidential campaign? If Trump feels well, and carries on with most of his campaign functions from the White House, the damage may not be that significant."

"Investors also wonder if the Joe Biden also has Covid-19 given the fact that Trump and Joe Biden had their first presidential debate this week...if Biden’s test also comes positive... investors will start to wonder if the U.S. election date will move as a result of this."

Investors were also concerned about the likelihood of a US coronavirus stimulus package being agreed now that Trump is in a 14-day quarantine.

Shares in Centamin plunged more than 16% after the company said it would reduce production guidance for the current year after ground movement forced an area of its Egyptian Sukari gold mine to be shut down.