Europe closes lower amid recovery uncertainties

Thursday, 25. February 2021 17:31

Major stock market indexes in Europe ended the trading session in the red on Thursday as the investors remained cautious regarding the pace at which the economic recovery from the coronavirus pandemic could unfold.

Vice President of the European Central Bank (ECB) Luis de Guindos, and Philip Lane, ECB's Executive Board member, both hinted that the rebound might not come as quickly as was previously forecasted. On the other hand, Regeneron Pharmaceuticals stated that its COVID antibody cocktail treatment showcased "clear clinical efficacy," while Pfizer unveiled that it intends to start trials to determine if the third dose of its jab neutralizes new variants of the disease.

The DAX dropped 0.69% as the session came to a close with Bayer tumbling 6.39%. The CAC concurrently slid 0.24%, as Safran dove 4.17%. At the same time, in London, the FTSE 100 lost 0.11% with Standard Chartered down by 6.07%. The euro jumped 0.48% versus the dollar, to sell for 1.22238 at 5:32 pm CET, while the pound sterling declined by 0.11% compared to the greenback, to go for 1.41214 a minute later.

Related Links: 
Breaking the News / BU