Europe closes in the red as global sell-off continues

Monday, 05. February 2018 17:31

Markets across Europe closed with losses on Monday as a global sell-off in equities continued following the weekend. On Friday, Wall Street ended the session sharply in the red with the Dow Jones Industrial average losing over 600 points during trade. The profit-taking began unfolding after the release of strong jobs data earlier in the day, as well as the reporting of the fastest annual growth in US wages in more than 8 years, all sparking expectations of a certain interest rate hike next month from the Federal Reserve.

The DAX closed 0.76% lower with Henkel AG losing 3.04% The CAC 40 finished the session 1.48% in the hole as Lafargeholcim fell 2.55%. The FTSE 100 declined 1.46% at the close; advertising and public relations company WPP was the worst performer as it lost 2.75%. The euro was down 0.35% against the dollar at 5:40 pm CET, going for $1.24169, while the pound lost 0.79% versus the greenback at the same time, buying $1.40094.

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Breaking the News / JC