European shares drop in premarket as virus fears mount

Monday, 26. October 2020 07:51

European stocks dropped during premarket trading on Monday as more countries tightened their coronavirus restrictions amid a surge in new cases on the continent.

Over the weekend, the Spanish government declared a state of emergency that could last for six months and ordered a nationwide curfew. In Italy, the new measures include limited working hours for restaurants and bars and the closure of gyms, cinemas, and theaters.

The DAX dropped 1.50%, while the FTSE 100 was down 0.72% at 7:45 am CET. Meanwhile, the CAC 40 sank 1.08% in Paris. The euro declined 0.23% against the dollar at 7:46 am CET, buying 1.18350. A minute later, the pound was 0.14% lower compared to the US currency, going for 1.30244.

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