TELETRADER News
4/24/2020, 5:31 PM (Source: TeleTrader)
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Europe closes in red after no progress in Brexit talks

Stocks on the European markets traded lower at the close on Friday as this week's post-Brexit talks between the EU and the UK have shown little progress. European Commissioner Thierry Breton estimated the EU's economy could contract up to 7.5% this year due to the pandemic, while Germany published a similar forecast about the country's economy significantly shrinking in 2020.

Meanwhile, The World Health Organization launched a global campaign to accelerate the fight against the coronavirus and support the development of treatments and vaccines for the COVID-19.

The DAX dropped 1.69% at the closing bell, as Deutsche Lufthansa AG sank 8.02%. The FTSE 100 fell 1.28% as the session ended, with Intertek Group PLC plunging 6.35%. The CAC 40 finished 1.30% lower. Societe Generale S.A. led the losses, losing 4.48%.

The euro added 0.19% against the dollar to sell for $1.07986 at 5:39 pm CET, while the pound concurrently declined 0.09% versus the greenback to go for $1.23324.

Baha Breaking the News (BBN) / ND