Europe closes lower over new COVID strain fear

Monday, 21. December 2020 17:30

Major European markets closed with losses on Monday as investors focused on the new COVID-19 strain detected in the United Kingdom and the travel bans imposed by several governments. Meanwhile, the European Commission's decision on the conditional marketing authorization for the Pfizer-BioNTech vaccine is expected imminently, after the European Medicines Agency (EMA) recommended granting a conditional marketing authorization for the vaccine.

At the end of the trading session, the DAX dropped 2.82%, with Bayer AG losing 4.56%. The FTSE 100 ended with losses of 1.73% as Rolls-Royce Holdings PLC declined by 7.33%. The CAC 40 slid 2.43% as Societe Generale was the worst performer after a drop of 5.19%.

The euro declined by 0.20% versus the dollar, selling for 1.22210 at 5:30 pm CET, while the pound sterling fell 1.10%, to go for $1.33461 concurrently.

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