Europe closes mostly flat amid recovery uncertainty

Wednesday, 26. May 2021 17:32

Major European equity markets closed mostly flat on Wednesday as investors anticipated central banks to start tapering emergency bond purchases. Inflation increases remained in focus as analysts evaluated if price pressures will be temporary as promised by financial officials. Meanwhile, the German finance minister said that the global minimum corporate tax agreement may be reached "within weeks".

Pharmaceutical companies have made headlines as Belgium suspended the use of Johnson & Johnson's COVID-19 vaccine for people younger than 41 years old, while the European Union accused AstraZeneca of not fulfilling its vaccine delivery promises.

The DAX closed with 0.09% below the flatline, led by MTU Aero Engines dropping by 1.44%. The FTSE100 remained flat with 0.04% in the red as Ocado Group declined by 3.81%, while the CAC40 climbed up by 0.02% with Unibail-Rodamco-Westfield gaining 2.25%. The euro was down by 0.32% against the dollar to trade for $1.22112 at 5:27 pm CET, at the same time the British pound lost 0.17% exchanging hands for $1.41268.

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Breaking the News / LH