3/16/2020, 5:30 PM (Source: TeleTrader)
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Europe closes sharply lower on COVID-19 fears

Equities on major European stock markets closed in the red on Monday as the number of confirmed coronavirus cases worldwide climbed over 175,700 with the death toll reaching 6,716. European Investment Bank (EIB) said earlier it could provide up to €40 billion to support firms affected by the COVID-19 outbreak. Also, European Union finance ministers are set to roll out coordinated economic policies to tackle the effects of the coronavirus outbreak.

The FTSE 100 dropped 4.01% at the end of the session. International Consolidated Airlines Group SA was the worst performer, tumbling 26.23%. The DAX lost 5.31% with MTU Aero Engines falling 12.17%. CAC 40 decreased by 5.75% as Unibail-Rodamco declined by 17.93%

The euro grew 0.39% against the dollar to sell for $1.11467 at 5:37 pm CET, while the pound fell 0.08% to $1.2253 at the same time.

Baha Breaking News (BBN) / TF