Europe opens lower amid fresh trade concerns

Thursday, 14. November 2019 09:01

European markets opened lower on Thursday on fresh concerns the United States and China will not be able to reach an agreement on trade after reports emerged the two sides hit a new hurdle in negotiations. Meanwhile, stocks were also affected by worse-than-expected industrial production figures from China. Investors also digested German GDP data, which showed the country managed to avoid entering a technical recession, as well as earnings reports from companies including Burberry, RWE and Henkel.

The FTSE 100 declined 0.20% at 9:00 am CET with Fresnillo, whose shares dropped 2.32% at 9:03 am CET, as the worst performer.

The DAX decreased by 0.19% at 9:03 am CET. Daimler led the losses as it plunged 4.67% at 9:02 after it announced cost cuts, which the carmaker expects to negatively impact its earnings over the next two years.

The CAC 40 was down 0.08% at 9:00 am CET. ArcelorMittal pulled the index down, falling 1.70% at 9:03 am CET.

The euro added 0.03% against the dollar to sell for 1.10119 at 9:07 am CET, while the pound dipped 0.07% compared to the US currency to go for 1.28435 at the same time.

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Breaking the News / NP