Europe finishes lower on coronavirus concerns

Freitag, 27. März 2020 17:30

Major European stock markets closed on Friday lower as fears regarding the coronavirus-caused recession flair up. The International Monetary Fund Managing Director Kristalina Gergieva claimed the situation was "bad or worse" than 2009. Meanwhile, French Finance Minister Bruno Le Maire stated that domestic companies that have previously asked for assistance from the government shouldn't be paying dividends.

The FTSE 100 was down 5.25% at the end of the session, as Carnival plc plummeted 21.05%. The DAX lost 3.68%, with Covestro AG tumbling 8.11%. The CAC 40 decreased 4.23% as Accor S.A. dropping 9.58%.

The euro rose 0.41% against the greenback at 5:29 pm CET to go for 1.10754, while the pound jumped 1.68% to sell for 1.24112 dollars.

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Breaking the News / MD