Europe closes lower on coronavirus worries

Monday, 22. June 2020 17:29

Major European stock markets closed lower on Monday as investors continued to monitor a global rise in COVID-19 cases. The coronavirus reproduction rate based on a four-day average in Germany jumped from 1.79 to 2.88, after which Deutsche Bundesbank President Jens Weidmann warned recovery from the crisis could become "painfully slow."

The DAX fell by 0.65% at the closing bell, with Wirecard plummeting 45.55%. The FTSE dropped 0.72% as International Consolidated Airlines Group lost 4.57%. The CAC 40 lost 0.67% with Sodexo declining 3.15%.

The euro increased by 0.66% compared to the dollar, selling for $1.12530 at 5:32 pm CET, while the pound rose 0.68% to change hands for $1.2440 at the same time.

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Breaking the News / TF