EU stocks mostly lower premarket as fresh US tariffs take effect

Friday, 18. October 2019 07:44

European equities traded mostly in the red before the opening bell on Friday as investors kept an eye on the latest developments in economy and politics. Just hours earlier, the latest batch of levies on goods from the European Union, targeting $7.5 billion worth of merchandise, took effect, following a ruling from the World Trade Organization which found that the EU was indeed breaching rules when it lent support for Airbus.

Furthermore, investors are likely to be on the lookout for the newest developments surrounding Brexit and the deal reached on Wednesday between the UK and EU. It now remains to be seen whether Prime Minister Boris Johnson will manage to garner sufficient support for his agreement in the House of Commons tomorrow, having in mind that the DUP and Labour Party have already made clear they will not back the deal, while the SNP is reportedly busy tabling an amendment seeking a fresh Brexit extension.

Germany's DAX dropped 0.19%, while the FTSE 100 declined 0.18% at 7:34 am CET. The French CAC 40 was the only index to trade in the green, slightly above the flat line at 0.08% at 7:35 am CET.

The pound lost 0.31% against the euro, going for 1.28512 at 7:37 am CET, while the euro traded flat against the greenback, changing hands for 1.11256 at the same time.

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Breaking the News / GG