2/17, 5:32 PM (Source: TeleTrader)
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Europe closes lower amid grappling pandemic

Major European stock markets closed in the red on Wednesday as economists predicted costs on goods in the UK will increase post-lockdown and inflation is likely to exceed the Bank of England's 2% goal by end of 2021. As Europe secured additional 300 million doses of COVID-19 vaccines, the European Commission announced its determination to "enhance its 'extensive political, diplomatic and financial support to promote global peace and security, [...] international law, and [...] multilateral solutions to global challenges."

The DAX was 1.08% down at the close with Beiersdorf AG declining 5.82%. In London, the FTSE 100 lost 0.53% led by Hargreaves Lansdown sliding 6.41%. The CAC 40 dropped 0.32% at the end of the trading session as Kering fell by 7.15%.

The euro declined 0.64% against the dollar to sell for 1.20346, while the pound decreased 0.47% to $1.38430 at 5:36 pm CET.

Breaking the News / LH