Europe open: Shares in the red as Covid fears, US tariffs weigh
European stocks started the final trading day of the year in red territory as tougher Covid restrictions in the UK and new US tariffs on EU products weighed on sentiment.
Volumes were thin, with traders away and the German and Italian bourses closed, while others were only open for half a day.
The pan-European STOXX 600 was down 0.3%, and was on track for a 4% fall in 2020.
Germany’s DAX ended 2020 with a 3.5% gain on Wednesday and just below all-time highs, while Italy’s FTSE MIB was down 5.4% for the year.
In the UK, the FTSE 100 fell 1.67% as eight in 10 Britons found themselves under the highest coronavirus restrictions in an attempt to stymie the spread of a new variant. The pound also gained on Thursday, hitting the export-heavy blue-chip index.
French stocks were hit after the U.S. government said it would raise tariffs on EU products including aircraft components and wines from France and Germany. It is the latest chapter in a 16-year battle over aircraft subsidies between Washington and Brussels.