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European shares fall after three day rally

European shares fell in opening trade today after a three-day rally sparked by hopes of more aggressive stimulus to shore up the global economy ravaged by the rapid spread of the coronavirus pandemic.

Shares in London had sank 3.3% so far this morning, while shares in Paris fell by 1.6% and the Frankfurt market was down 1.7%.

Dublin shares also opened lower this morning, falling by 2.7%. 

More than $3 trillion has been wiped from the value of European firms since the outbreak of Covid-19.

With the pandemic still far from contained in Europe, the bloc has suspended state aid rules and limits on public borrowing and approved $40 billion worth of emergency funds to help airlines, among the hardest hit sectors in the global emergency.

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