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7/22/2020, 9:01 AM (Source: TeleTrader)
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Europe opens lower as COVID-19 worries continue

Major stock markets in Europe opened lower on Wednesday as investors are worrying over the COVID-19 impact on the global economy. Yesterday, the leaders of the European Union (EU) have struck a deal on the distribution of funds under the bloc's €750 billion coronavirus relief package and later today, the European Central Bank President Christine Lagarde will give a speech about the EU navigating the economic effects and charting the recovery.

The DAX traded lower by 0.06% at the opening bell with Wirecard AG falling by 1.86%. The FTSE 100 was down by 0.24%. Whitbread PLC was the worst performer slipping 1.52%. The CAC 40 lost 0.10% as Michelin dropped by 0.93%.

The euro rose by 0.07% compared to the dollar to sell for $1.15359 at 8:57 am CET, while at the same time, the pound sterling decreased by 0.12% to the greenback to exchange for $1.12716.

Breaking the News / TF