Europe closes lower amid BoE's negative rates uncertainty

Thursday, 24. September 2020 17:36

Major European stock markets dropped at the closing bell on Thursday after the Bank of England Governor Andrew Bailey said that the institution had "no view" on whether it should use negative rates to combat the economic crisis caused by COVID-19. Earlier in the day, British Chancellor of the Exchequer Rishi Sunak announced a six-month containment measure plan, which Prime Minister Boris Johnson praised. In other news, the global coronavirus infections exceeded 32 million.

The DAX traded 0.34% lower at the closing bell with MTU Aero Engines AG stocks falling 2.38%. The FTSE 100 plunged 1.30% as Rolls-Royce Motor Cars Limited plunged 7.57%. The CAC 40 sank 0.83% with Airbus SE declining 3.46%.

The euro lost 0.05% against the dollar to sell for $16534 at 5:34 pm CET. At the same time, the pound sterling gained 0.07% against the greenback to exchange hands for $127328, at the same time.

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