European Stocks Close Weak As Delta Variant Concerns Weigh On Sentiment

(RTTNews) - European stocks closed notably lower on Monday, weighed down by concerns about fresh travel-related restrictions due to the spread of the delta variant of Covid-19 in several parts of the continent.

According to reports, Portugal, Spain and Germany have issued new travel restrictions, aiming to limit the spread of the more contagious Delta coronavirus variant.

Non-vaccinated Britons travelling to Portugal will need to go through mandatory quarantine for two weeks, according to an order published by the Portuguese government. Also, anyone travelling to mainland Portugal by air, land or sea, will have to prove they have been fully vaccinated or have to isolate.

Airlines and hospitality industry stocks tumbled on concerns about coronavirus-related restrictions. Energy stocks were weak following a drop in crude oil prices, while miners slipped after China's industrial profits dropped in the month of May.

The pan European Stoxx 600 slid 0.59%. The U.K.'s FTSE 100 declined 0.88%, Germany's DAX ended 0.34% down and France's CAC 40 lost 0.98%, while Switzerland's SMI edged up 0.08%.
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