Europe closes lower amid EU budget plan concerns

Thursday, 19. November 2020 17:33

Major European stock markets closed in the red on Thursday after European Commissioner for Economy Paolo Gentiloni urged EU leaders to strike an agreement on the coronavirus stimulus plan soon, while Hungarian Prime Minister Viktor Orban's Chief of Staff, Antal Rogan, stated that the budget in its present form is not acceptable to Budapest. On the data front, Eurostat reported that the Eurozone construction output declined 2.9% on a monthly basis in September.

The DAX decreased by 0.87% at 5:30 pm as Muench. Rueckvers. dropped 3.36%. London's FTSE 100 was 0.81% down at 5:29 pm CET with Johnson Matthey plummeting 4.98% at the same time. In Paris, the CAC 40 declined by 0.76% at 5:33 pm CET. Unibail-Rodamco-Westfield led the losses, falling 3.81% at 5:29 pm CET.

The euro was 0.10% lower against the dollar, selling for 1.18409 at 5:38 pm CET, while the pound lost 0.34% compared to the greenback, buying 1.32250 concurrently.

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Breaking the News / MS