Europe closes mostly lower on worries over virus 2nd wave

Monday, 11. May 2020 17:30

European stocks ended Monday's session mostly lower as traders are monitoring developments regarding countries lifting lockdown restrictions. The United Kingdom Prime Minister Boris Johnson said that the government’s challenge is easing of lockdown but that "it would be a great mistake to ease it too fast” and that the UK has to try to avoid COVID-19 second peak. Also, the German Mechanical Engineering Industry Association (VDMA) stated the coronavirus pandemic significantly impacted the country's industry, with nine out of ten companies seeing themselves as affected by the crisis.

The DAX dropped 0.73% with Heidelbergcement AG falling by 5.20%. The CAC 40 slid 1.32% as ArcelorMittal SA, fell 16.08%. Meanwhile, the FTSE 100 added 0.06%. The best performer was Hargreaves Lansdown Plc as its shares rose 5.08%.

The euro declined 0.24% against the dollar to sell for 1.08105 at 5:37 pm CET and the pound fell 0.57% to go for 1.23318 at the same time.

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Breaking the News / TF