European stocks closed flat, with the market tugging between fears in Asia and optimism to reopen Britain's economy

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Monday, May 17, 2021 - 18:36
Point Trader Group
European stocks closed flat, with the market tugging between fears in Asia and optimism to reopen Britain's economy

The European stock market closed flat on Monday, as it covered weak Chinese data and warned about the spread of a mutated strain of Covid-19 on optimism about the reopening of the British economy.

As the STOXX 600 index ended the trading session down by 0.05%, the shares of travel and entertainment companies were at the forefront of the losers, with their index falling 2.3%, while the telecom companies led the gaining sectors.

European stocks have shown good performance since the beginning of the year and jumped to an all-time high this month, as the STOXX 600 index rose by 11% so far since the beginning of this year with the support of stock purchases fueled by the prospects for economic recovery and strong corporate profits.


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