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10/15, 5:30 PM (Source: TeleTrader)
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Europe closes lower as number of COVID cases rise

Major European stock markets closed lower on Thursday as public health restrictions came back to life across Europe due to a new wave in coronavirus infections. World Health Organization's Regional Office for Europe asserted that the situation on the continent regarding the coronavirus pandemic is a reason for "great concern." French Economy and Finance Minister Bruno Le Maire promised the industry facing severe crisis amid the coronavirus pandemic would receive the government's help worth €1 billion to prevent further financial losses.

The DAX traded 2.64% lower at the closing with Fresenius SE falling by 4.27%. The FTSE 100 sank 1.80%. Burberry Group Plc was the worst performer slipping 4.50%. The CAC 40 declined by 2.09% as Unibail-Rodamco-Westfield decreased by 5.19% as AXA went down by 4.92%.

The euro fell 0.41% against the dollar to sell for $1.16999 at 5:28 pm CET. At the same time, the pound sterling decreased by 0.66% in comparison to the greenback to exchange hands for $1.29225.

Breaking the News / TF