Europe erases gains as COVID fears persist

Wednesday, 25. November 2020 11:39

Shares on the major stock market indexes in Europe started trading mostly lower after opening Wednesday's session in positive territory as the traders kept an eye on the numbers of COVID-19 cases and deaths attributed to the virus, that have both been on the rise across the continent.

Moreover, European Central Bank said in its Financial Stability Review for November that growth in the euro area's economic activity may not reach its pre-outbreak levels until 2023.

The DAX dropped 0.22% at 11:38 am CET, while the FTSE 100 concurrently declined by 0.38%. A minute later, in Paris, the CAC 40 stood flat. The euro remained unchanged compared to the dollar, selling for 1.18975 at 11:41 am, while the pound sterling lost 0.26% versus the greenback, to go for 1.33263 at the same time.

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