Europe opens lower over COVID 2nd wave concerns

Thursday, 24. September 2020 09:03

Major European stock markets opened lower on Thursday as investors’ are worried that the economic recovery won't be as quick as expected due to the second wave of coronavirus cases. The number of daily reported coronavirus cases in the UK has jumped by 6,178, marking its largest daily increase in infections since May 1. Also, COVID-19 cases exceeded 32 million globally with the two German government ministers, Heiko Maas and Peter Altmaier, now being in quarantine. On the data front, the European Central Bank will launch a new publication, the Economic Bulletin later in the day.

The DAX traded 0.92% lower at the opening with Bayerische Motoren Werke falling 1.56%. The FTSE 100 lost 1.20%. International Consolidated Airlines Group was the worst performer going south 2.35%. The CAC 40 went down by 1.20% as well as Accor plunged by 3.88%.

The euro stood flat against the dollar to sell for $1.16547 at 9:02 am CET. At the same time, the pound sterling slid by 0.15% against the greenback to exchange hands for $1.27042.

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