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7/1, 5:35 PM (Source: TeleTrader)
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Europe ends lower after Merkel's crisis comments

European stock markets ended in the red on Wednesday after German Chancellor Angela Merkel warned the European Union is still far from an agreement on its COVID-19 crisis recovery fund and pointed out the bloc needs to prepare for a no-deal Brexit. The lower close also comes after Xetra faced technical difficulties in its electronic trading system early in the session.

The DAX finished 0.41% lower as Wirecard dropped 16.23% at the end of the day. The FTSE 100 ended 0.19% in the red, with Hargreaves Lansdown falling 5.50% to lead the losses. Meanwhile, the CAC 40 declined 0.18% at 5:50 pm CET as Renault fell 4.78%.

The euro was up 0.23% against the dollar, going for $1.12597 at 5:33 pm CET. The pound increased by 0.5% at 5:34 pm CET, changing hands for $1.24631.

Breaking the News / VP