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European shares turn lower as Merkel calls for tighter COVID-19 curbs

Economy6 minutes ago (Nov 22, 2021 07:36AM ET)

(C) Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 19, 2021. REUTERS/Staff

MILAN (Reuters) – European shares erased gains and bond yields dipped on Monday after German Chancellor Angela Merkel reportedly said Europe’s biggest economy needs tighter restrictions to control a wave of COVID-19 inflections, traders said.

According to Bloomberg, Merkel told officials from her CDU party that the situation is “highly dramatic” and warned that hospitals would soon be overwhelmed unless the fourth wave of the virus is broken. It cited person familiar with her remarks.

Europe’s STOXX 600 equity benchmark was down 0.1% by 1224 GMT, having earlier risen 0.3%. Germany’s 10-year bond yields were last at -0.330%, off a high of -0.315%.

The euro briefly ticked further down, it was last down 0.2% at $1.12775.

European shares turn lower as Merkel calls for tighter COVID-19 curbs

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