Europe closes lower on virus, recovery concerns

Wednesday, 31. March 2021 17:30

Shares on major European stock markets finished trading on Wednesday in the red amid investors' worries over the coronavirus pandemic and its impact on economies across the continent. European Central Bank (ECB) Governing Council Member Francois Villeroy de Galhau noted that the bloc needs to implement the recovery plan at a higher pace to back the rebound from the crisis.

Meanwhile, accelerated growth in Spain's coronavirus cases raised concerns as the strain first detected in the United Kingdom accounted for 60% to 70% of new cases of the infection, Health Minister Carolina Darias warned.

The DAX decreased 0.05% at the closing bell as BASF SE slid 1.45%. The FTSE 100 fell 0.65% with Mondi Plc dropping 2.98%, and the CAC 40 in Paris lost 0.25% concurrently as Renault weakened 1.93%. The euro advanced 0.15% to change hands for $1.17328 at 5:28 pm CET, while the pound gained 0.23% against the greenback to go for 1.37727 at the same time.

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Breaking the News / GA