2/21, 5:30 PM (Source: TeleTrader)
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Europe ends lower despite upbeat data

Stock markets in Europe capped the week of trading with losses as strong data failed to boost investor sentiment, giving way to fresh coronavirus-related concerns.

According to the data released earlier, manufacturing in the euro area hit a 12-month high, with the index landing at 49.1, up from 47.9 in January, while UK composite PMI beat estimates by reaching 53.3.

However, the sentiment was dampened by the latest coronavirus figures from China, where the number of infected people reached 75,465, while the death toll climbed to 2,236. Fresh concerns were raised by WHO as well, with the organization saying that the window of opportunity to contain the virus is "narrowing."

The DAX lost 0.71% as the session drew to a close. Deutsche Bank was the main laggard on the German index, plummetting 3.47%. The CAC 40 declined 0.62% at the session end, while the FTSE 100 retreated 0.44% but was the only index to post weekly gains. In Paris, Renault led the losses declining 3%, whereas in London, Pearson sank 4.70%, emerging as the worst performer.

The pound advanced 0.68% against the dollar, changing hands for 1.29692 at 5:30 pm CET, while the euro added 0.61% on the greenback, selling for 1.08552 at the same time.

Breaking the News / GG