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European market weakened due to Brexit

7 December 2020
1 min.
European market weakened due to Brexit

Unknowns over UK-EU trade relations in the new year is weighing on the stock market on Monday among statements that British Prime Minister Boris Johnson intends to end negotiations in a few hours.
European stocks sold inferior on Monday amid increased uncertainty over Brexit and even more coronavirus-related restrictions beforehand of key central bank sessions.
The European and British parliaments require to approve agreements, but there is little time left for that.
Additional tension was brought about by a new round of US-Chinese tensions: European shares fell 0.5 after the announcement of new sanctions against Chinese officials being prepared in Washington due to their influence in the disqualification process in the opposition in Hong Kong.
The Central Bank of Europe and the US Federal Reserve are due to publish their monetary policy decisions at the end of the week. Many expect the ECB to expand its bond buying program to help the region's economic regeneration. Anticipations for a stimulus package in the US are also picking up steam following last week's weak employment data and lengthy deadlock negotiations.
In addition, the market was pressured by the fact that in southern Germany in state of Bavaria it was announced this weekend that a stricter quarantine would be introduced from next week until early next year, which means that people will not be able to go out without serious then the reasons.

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