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7/11, 5:30 PM (Source: TeleTrader)
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Europe ends lower as IMF calls for fresh ECB stimulus

Markets in Europe closed with losses on Thursday after the International Monetary Fund (IMF) warned the Eurozone's economy is under pressure as a result of global trade tensions and Brexit concerns. The IMF called on the European Central Bank (ECB) to maintain its accommodative monetary policy "until inflation is sustainably converging to the ECB’s objective." Meanwhile, the Bank of England's Financial Policy Committee stated that the British financial system is prepared to withstand a no-deal Brexit or another shock such as a trade war.

The FTSE 100 declined 0.28% as Ocado plunged 6.17% after the online grocer posted a loss of £143 million for the first half of 2019, which it attributed to a fire in its robotic warehouse in Andover earlier this year. The DAX fell 0.33% with Continental, down 2.54%, as the worst performer. The CAC 40 ended 0.28% in the red. Sanofi led the losses as its shares dropped 1.89%.

The euro gained 0.09% against the dollar to sell for 1.1261 at 5:35 pm CET.

Breaking the News / NP