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12/2/2020, 7:40 AM (Source: TeleTrader)
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Europe declines premarket amid recovery worries

Shares on major stock markets in Europe went down in premarket trade on Wednesday with the coronavirus outbreak and tighter restrictions against the pandemic looming over the economic recovery. European Central Bank President Christine Lagarde warned that the Eurozone is still in the middle of the crisis, adding the negative economic effect of recent containment measures is yet to be determined.

Investors await economic reports that could hint the pace of the recovery with data on producer prices and unemployment for the euro area expected to be released during the session.

The DAX slid 0.26% at 7:38 am CET while the FTSE 100 decreased by 0.19%. The CAC 40 in Paris was down 0.15% at the same time. Meanwhile, the euro stood flat against the dollar to trade for 1.20725 at 7:39 am CET, while the pound lost 0.1%, changing hands for $1.34134 a minute later.

Breaking the News / GA