European Stocks Erase Gains as ECB Warns Growth Is Losing Steam
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European stocks erased earlier gains and closed little changed after the European Central Bank chief warned that European economies are losing momentum more quickly than expected as new Covid-19 lockdowns threaten the recovery.
The Stoxx Europe 600 Index closed down 0.1% in London, after yesterday slumping to a five-month low following the announcement of new restrictions in France and Germany. Among the biggest decliners, Nokia Oyj plunged 18% after lowering its 2020 outlook. Credit Suisse Group AG retreated after missing analyst estimates in key businesses.