Europe closes sharply lower after UK publishes Brexit proposal

Wednesday, 02. October 2019 17:30

Equities on major European stock markets finished Wednesday's trading session deep bellow the flatline after the United Kingdom's government published its proposal for the Withdrawal Agreement. The Democratic Unionist Party expressed support for the changes, while opposition Leader Jeremy Corbyn, Irish Prime Minister Leo Varadkar and Scotland's First Minister Nicola Sturgeon expressed dissatisfaction over the proposals. Meanwhile, the World Trade Organization ruled that the United States' could impose tariffs on European imports over the bloc's Airbus SE subsidies.

In London, the FTSE 100 lost 3.23% at the closing bell with Hargreaves Lansdown plc, Kingfisher plc, and Associated British Foods plc weighing most on the index. The DAX in Frankfurt tumbled 2.76% as HeidelbergCement AG dropped 4.85%. The French CAC 40 fell 3.12% at the same time, with all the stocks finishing in the red.

The euro gained 0.19% against the dollar at 5:29 pm CET to sell for 1.09538, while the pound traded flat at $1.23093 concurrently.

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Breaking the News / MD