EU equities drop at open amid fueled trade fears

Thursday, 21. November 2019 09:02

European stocks continued yesterday's decline at the opening bell on Thursday as trade uncertainty continued to dominate investor sentiment.

Earlier, the Ministry of Commerce of China asserted that "outside rumors" about the trade talks with the US are not reliable, contradicting yesterday's reports about the two sides having trouble finding a middle ground in the ongoing discussions. Furthermore, diplomacy between the two is also under strain as the US moved a step closer to turning the bill supporting Hong Kong protesters into a law.

Meanwhile, investors will be in for the account of the ECB's latest monetary policy meeting and speeches from a number of the institution's officials.

The DAX kicked the trading day off by losing 0.58%. Infineon led the losses on the Deutsche Boerse, sinking 1.83%. The CAC 40 was also off to a bad start retreating 0.56%. Arcelormittal was the worst performer as it plunged 2.70% The FTSE 100 was down 0.15% as the session started with Johnson Matthey plummeting 3.76%.

The pound advanced 0.11% versus the dollar, buying 1.29366 at 9:02 am CET, while the euro traded flat against the US currency, selling for 1.10759 at the same time.

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