Europe closes in red as coronavirus worries climb

Tuesday, 18. August 2020 17:30

Shares on major European stock markets were lower at the closing bell on Tuesday as traders' fears over the potential second wave of the coronavirus pandemic increased. German Chancellor Angela Merkel unveiled that containment measures will remain in effect as the country faces growth in COVID-19 infections.

Meanwhile, European banks are not likely to recover from the virus-caused crisis before 2022, according to European Central Bank Vice President Luis de Guindos.

The DAX finished the session 0.47% lower with MTU Aero Engines losing nearly 2%. Concurrently, the FTSE 100 sank 0.95% with Pearson PLC slipping more than 3%, while the CAC 40 declined 0.85% as Unibail-Rodamco-Westfield weakened over 4%.

The euro rose 0.45% to change hands for $1.19240 at 5:27 pm CET.

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Breaking the News / GA