Europe opens in red as COVID concerns resurge

Tuesday, 11. May 2021 09:03

Major European stock markets opened with losses on Tuesday on fresh worries surrounding the Indian COVID-19 variant that has been recently labeled as a "global concern" by the World Health Organization.

The previous day was also marked by the news that the United States approved the Pfizer/BioNTech COVID-19 vaccine for emergency use among children aged 12-15. Meanwhile, French member of the ECB's Governing Council Francois Villeroy de Galhau confirmed policymakers would maintain the pandemic emergency purchase program (PEPP) at least until March next year.

The DAX plunged 0.96% or 148 points at the opening bell, with Infineon Tech leading the losses. The FTSE 100 kicked off 1.19% in the red, as Natwest Group tumbled 4.11% The CAC 40 lost 1.08% at the start of the trading, with ArcelorMittal being the worst performer. Both the euro and the pound stood flat against the dollar to sell for 1.21348 and 1.41177, respectively.

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