Europe turns to losses amid Brexit, EU budget worries

Thursday, 26. November 2020 12:06

Major European stock market indexes moved to negative territory on Thursday after having started the trading session above the flatline, amid rising concerns regarding the Brexit negotiations between the United Kingdom and the European Union and potential ramifications of a scenario in which no deal has been reached by the end of the transition period.

Adding to the sentiment, Hungary's Prime Minister Viktor Orban underlined that Budapest still intends to block the EU budget for 2021-2027 unless it gets concessions from Brussels.

The DAX stood flat at 12:05 pm CET, while the CAC 40 declined by 0.12% at the same time. A minute later, in London, the FTSE 100 dropped 0.55%. Both the euro and the pound sterling went down compared to the dollar, losing 0.14% and 0.31% to sell for 1.19070 and 1.33494 at 12:09 pm CET, respectively.

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