Europe closes in red, FTSE sinks over 1%

Thursday, 18. February 2021 17:31

Equities on major European stock markets fell at the closing bell on Thursday as weak quarterly financial reports released by several major companies before the open dragged shares in the negative territory. Daimler recorded an annual revenue drop of 11% in 2020, while Barclays' earnings per share plunged 68% year-over-year in the fourth fiscal trimester.

On the economic front, Bank of England Monetary Policy Committee member Michael Saunders claimed he expects the unemployment in the United Kingdom to rise further to "around 7%," adding that five million jobs have already been lost since the beginning of the coronavirus pandemic.

The DAX in Frankfurt declined 0.16% to end the session with losses as MTU Aero Engines surrendered over 4% concurrently. The FTSE 100 finished 1.40% lower with Rolls-Royce Holdings plummeting more than 8%, while the CAC 40 in Paris went down by 0.65% at the closing bell as Atos sank over 6%. The euro added 0.32% to go for $1.20804 at 5:28 pm CET, while the pound advanced 0.65% at the same time, changing hands for $1.39533.

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Breaking the News / GA