Europe drops on open on COVID-19 treatment doubts

Friday, 24. April 2020 09:00

European markets opened with losses on Friday on doubts about a potential coronavirus treatment after a report claimed Gilead's remdesivir failed to improve the conditions of 158 COVID-19 patients during its first clinical trial. Elsewhere, investors digested a sharp drop in UK retail sales, as well as earnings reports from Eni, Nestle and Sanofi.

The FTSE 100 declined 0.81% at 9:00 am CET. Intertek Group led the losses as it plunged 4.14% at 9:02 am CET.

The DAX dropped 2.01% at 9:03 am CET. Continental was the worst performer as its shares fell 3.75% at 9:04 am CET.

The CAC 40 slid 1.49% at 9:00 am CET with Societe Generale diving 3.19% at 9:04 am CET.

The euro lost 0.30% against the dollar to sell for 1.07431 and the pound was down 0.23% compared to the US currency to go for 1.23150 at 9:02 am CET.

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Breaking the News / NP