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DAX Falls On Covid-19 Worries

German stocks fell on Monday as worries over rising coronavirus cases overshadowed stimulus hopes.

With the identification of cases of the new strains of coronavirus — from the U.K. and South Africa — Germany's Chancellor Angela Merkel warned locals "these next winter weeks will be the hardest phase of the pandemic".

The warning came after 465 new deaths were reported on Saturday, taking the death toll to 40,343.

The benchmark DAX dropped 117 points, or 0.8 percent, to 13,932 after closing 0.6 percent higher on Friday.

TeamViewer AG was down 0.9 percent. The software company said, according to preliminary figures, fourth quarter total billings grew 32 percent at constant currencies. The total subscriber base grew to 584 thousand at year-end from 464 thousand at prior year-end.

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