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European Markets Close Lower as Investors Monitor Coronavirus Vaccine Progress, Economic Data

Tuesday, 19 May 2020 23:29 WIB Stoxx 600 SahamEropa

European stocks finished in the red on Tuesday, halting the positive trend set at the start of the week, as investors monitored hopes for a coronavirus vaccine and outlooks for economic recovery. The pan-European Stoxx 600 reversed earlier gains to slide 0.5%. Autos tumbled 1% to lead losses while insurance stocks bucked the negative trend to edge 0.3% higher. On the data front, new EU car registrations fell 76.3% in April, from the same month a year ago, according to data published Tuesday from the European Automobile Manufacturers Association (ACEA). Germany’s closely-watched ZEW survey of economic sentiment for May showed a much greater-than-expected improvement on Tuesday, with...

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