European shares turn to losses

Monday, 11. May 2020 11:32

Stocks in Europe turned to losses after initially opening higher on Monday. Earlier in the trading day, German industry warned that 90% of German companies recorded a negative impact of the coronavirus pandemic on their business. Meanwhile, United Kingdom Prime Minister Boris Johnson is set to explain his lockdown easing plans in Parliament.

The DAX fell 0.40% at 11:27 am CET as Heidelbergcement AG led the losses as it dropped 3.55% at 11:26 am CET. The FTSE 100 declined 0.5% at 11:28 am CET. EasyJet was the worst performer in the British index, plunging 7.94% at 11:14 am CET as the airline industry continues to suffer from coronavirus-related travel restrictions. France's CAC 40 lost 0.96% at 11:15 am CET as Safran fell 4.39% at the same time.

The euro traded 0.19% lower compared to the dollar as it changed hands for 1.08179 at 11:31 am CET.

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Author:
Breaking the News / VP