European stocks slip 0.7% as fears coronavirus second wave persist

European stocks closed in negative territory on Monday as the lifting of lockdowns continued throughout Europe despite fears of a second wave of coronavirus cases.

The pan-European Stoxx 600 ended the day provisionally 0.7% lower, reversing earlier gains. Basic resources dropped 2.5% to lead losses, with most sectors and major bourses ending in the red.

Spain’s IBEX closed around 0.75% lower, while France’s CAC 40 ended down 1.3%. Meanwhile, Italy’s FTSE MIB fell around 0.3% and Germany’s DAX ended the day down 0.7%. The U.K.’s FTSE 100 ended flat.

European investors continued to watch developments in the region with countries continuing to gradually lift lockdown restrictions.