Europe closes lower amid EU–UK Gibraltar rift

Friday, 19. March 2021 17:30

Major stock markets on the Old Continent closed lower on Friday after the European Union stated it was launching legal action against the United Kingdom after the latter failed to recover illegal state aid of around €100 million provided for Gibraltar tax exemptions. Meanwhile, Ukraine, Hungary, and Poland saw significant surges in infections from COVID-19. In the meantime, Finland temporarily suspended the use of AstraZeneca PLC and Oxford University's vaccine against the virus amid the investigation of two cases of blood clots possibly connected to it.

The DAX decreased by 0.89% as Covestro AG plummeted by 5.42%. The FTSE 100 closed 0.87% lower, with Rolls-Royce Holdings PLC sinking by 4.96%. The CAC 40 fell by 0.83% as Stellanist NV declined by 3.18%.

The euro lost 0.12% to the dollar to sell for $1.19008 at 5:27 pm CET. At the same time, the pound sterling worsened by 0.38% against the greenback to change hands for $1.38744.

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Breaking the News / JR