Europe sinks at close as Delta variant hurts outlook

Thursday, 08. July 2021 17:31

Major European stock registered major losses at the closing bell on Thursday as the economic effects of the Delta coronavirus variant helped negative sentiment prevail in today's session.

The United Kingdom reported more than 30,000 new positive cases for the second day in a row in its latest COVID-19 update, prompting fresh concerns ahead of the reopening planned for July 19. Meanwhile, the European Central Bank confirmed its inflation target at exactly 2% in its latest strategic review, replacing the inflation goal defined as "below, but close to 2%."

The DAX lost 1.73% or 272 points at the close, with Deutsche Bank dropping 3.16%. The FTSE 100 tumbled 1.68% or 120 points, as Intermediate Capital Group lost 5.05%. The CAC 40 sank 2.00% or 130 points. Carrefour led the table by declining 4.62%. The euro gained 0.43% against the dollar to trade for 1.18422 at 5:32 pm CET, while the pound fell 0.28% to $1.37617.

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