12/21/2020, 9:03 AM (Source: TeleTrader)
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European stocks open in the red as virus fears take hold

Shares on the major European stock market indexes opened the session on Monday well below the flatline as the investors followed closely the news regarding the new strain of the coronavirus found in the United Kingdom. The discovery prompted the UK officials to introduce stricter containment measures, and made countries around both Europe and the world impose travel restrictions in order to limit the spread of the new COVID variant.

On the Brexit front, the latest reports signaled that the European Union and the UK will have a hard time finding a solution acceptable to both sides, while both London and Brussels reiterated their utmost dedication to reaching a deal before the end of the transition period.

The DAX tumbled 1.70% at 9:02 am CET as MTU Aero Engines lost 5.56% at 9:04 am CET. The CAC 40 dwindled 2.45% at the opening bell with Renault down by 6.62 at 9:02 am CET. Meanwhile, in London, the FTSE 100 dropped 1.68% as the trading started. Whitbread PLC was the worst performer on the index, with a 5.98% plummet seen at 9:03 am CET. The euro fell 0.56% versus the dollar, selling for 1.21772 at 8:58 am CET, while the pound sterling declined by 1.59%, to go for $1.32818 at the same time.

Breaking the News / BU