8/31/2020, 5:31 PM (Source: TeleTrader)
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Europe closes lower in final August session

European equities finished trading lower on Monday but managed to post strong monthly gains in August despite continued economic uncertainty stemming from the coronavirus pandemic.

Investors monitored virus-related developments as cases rose above 25 million worldwide over the weekend. Meanwhile, inflation data from Germany released earlier in the day revealed a negative inflation rate in Europe's largest economy this month.

The DAX closed 0.67% in the red, but is up over 5% for the month. Deutsche Bank was the worst performer. The CAC 40 lost 1.11% at the end of trading in Paris, while the index is up over 4% in August. Safran was the largest decliner. The London Stock Exchange was closed for the August Bank holiday. The euro rose 0.35% against the dollar at 5:45 pm CET, buying 1.19513. At the same time, the pound climbed 0.18% versus the greenback to go for 1.33733.

Breaking the News / JC