Europe ends lower after Merkel's crisis comments

Wednesday, 01. July 2020 17:35

European stock markets ended in the red on Wednesday after German Chancellor Angela Merkel warned the European Union is still far from an agreement on its COVID-19 crisis recovery fund and pointed out the bloc needs to prepare for a no-deal Brexit. The lower close also comes after Xetra faced technical difficulties in its electronic trading system early in the session.

The DAX finished 0.41% lower as Wirecard dropped 16.23% at the end of the day. The FTSE 100 ended 0.19% in the red, with Hargreaves Lansdown falling 5.50% to lead the losses. Meanwhile, the CAC 40 declined 0.18% at 5:50 pm CET as Renault fell 4.78%.

The euro was up 0.23% against the dollar, going for $1.12597 at 5:33 pm CET. The pound increased by 0.5% at 5:34 pm CET, changing hands for $1.24631.

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