Shares in euro area end with significant losses

Wednesday, 17. May 2017 17:59

Equity markets in the Eurozone extended losses on Wednesday and ended sharply in the red after stocks in the US slumped, with investors flocking to safe haven assets as political tension mounted in Washington. The euro surged, and the relative weakness in the pound helped internationally oriented constituents in the FTSE 100, though sterling slightly advanced against the dollar, eyeing the $1.3 level, not seen since the end of September.

The blue-chip benchmark slipped 0.25% in London, landing just above the 7,500-point landmark. Ashtead tumbled 4.07%, and CRH lost 1.45%. The German DAX index finished 1.35% in the hole at 12,631.61 points, the weakest closing level since May 4. Deutsche Bank fell 3.49%, followed at the bottom of the list by Vonovia, which settled 3.36% under the flat line. The CAC 40 lost 1.63% to end at 5,317.89 points, the lowest since May 3. The drop was led by BNP Paribas, 3.12% down. The FTSE MIB crashed 2.31% in Milan.

The euro jumped 0.44% against the dollar, buying 1.11328, and 0.28% compared to the pound, to 0.86014. The session high, at £0.8615, was last seen on March 30. The British currency added 0.2% to buy $1.2943.

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