2/10/2021, 5:30 PM (Source: TeleTrader)
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Europe finishes in red on earnings, lockdown concerns

Equities on major stock markets in Europe were lower at the closing bell on Wednesday amid earnings season and concerns over extending coronavirus lockdown measures across the continent. German media reported that the government is not ready to ease the restrictions until March 14, citing an alleged draft resolution.

Meanwhile, several large European companies released their quarterly results that fell short of meeting expectations. ThyssenKrupp AG's revenues plunged 24% annually to €7.3 billion in the first quarter of fiscal 2021, while Societe Generale reported net income at €5.84 billion in the fourth fiscal trimester, marking a drop of 6% compared to the same period in 2019.

The DAX ended the session declining by 0.58% with Delivery Hero dropping nearly 3%, while the CAC 40 slipped 0.39% as STMicroelectronics fell almost 3%. FTSE 100 went down by 0.17% at the closing bell with Ocado Group plummeting slightly less than 7%. The euro gained 0.14% against the greenback to go for 1.21340 at 5:27 pm CET.

Baha Breaking the News (BBN) / GA