European stocks lose momentum amid fears for economy

Monday, 25. January 2021 10:35

European markets shortly turned to losses and went on to trade mostly flat on Monday after data from the Institute for Economic Research (Ifo) showed that business climate sentiment in Germany worsened in January amid new lockdowns. The aviation industry suffered most as fears mounted over the future of travel due to the coronavirus pandemic.

MTU Aero Engines fell 2.44% at 10:27 am CET, leading the DAX to trade 0.04% in the red at 10:28 am CET. The FTSE 100 decreased by 0.03% at 10:28 am CET. British Airways owner International Consolidated Airlines Group plummeted 6.86% at 10:15 am CET after officials in the United Kingdom warned that the country was far away from lifting any COVID-19 restrictions. France's CAC 40 lost 0.20% at 10:30 am CET. The index's worst performer was Unibail-Rodamco-Westfield which declined by 3.65% at 10:17 am CET.

The euro was 0.09% lower against the dollar, changing hands for 1.21568 at 10:32 am CET. Meanwhile, the pound traded flat compared to the greenback, going for 1.36762 at 10:33 am CET.

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