1/27/2020, 9:06 AM (Source: TeleTrader)
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Europe starts sharply lower on coronavirus concerns

European equities trade lower shortly after the start of the session on Monday as traders remained concerned over the latest news surrounding coronavirus. Thus far, the disease caused by the virus that originated in China has claimed the lives of 80 people, according to the Chinese authorities.

Meanwhile, the EU and the UK are gearing up for trade talks, with Brexit Secretary Stephen Barclay announcing that London will in the coming weeks publish its negotiation goals and Irish Prime Minister predicting that the bloc will have an upper hand in the upcoming negotiations.

There are no major data releases scheduled for the day.

The German DAXretreated 1.48% as the session kicked off. Lufthansa was the biggest loser on the Frankfurt Boerse, plunging 4.89%. The CAC 40 followed suit, dropping 1.65% with Kering sliding 4.26%. Over in London, the FTSE 100 declined sharply too, losing 1.41%. Johnson Matthey's shares dragged the index down, diving 3.76%.

The pound advanced 0.06% against the greenback, buying 1.30844 at 9:02 am CET.

Baha Breaking the News (BBN) / GG