Europe opens lower after Monday's rally

Tuesday, 02. March 2021 09:02

European markets opened with losses on Tuesday following yesterday's rally amid optimism surrounding economic recovery from the coronavirus pandemic.

On the data front, German retail sales dropped 8.7% in January on an annual basis, while investors were still awaiting preliminary consumer price index (CPI) data from the European Union and German unemployment rate data. No major European companies were on the earnings calendar for the day.

The DAX declined 0.35% at 9:02 am CET as Adidas fell over 2%. In Paris, the CAC 40 was down 0.24% at the time, while the FTSE 100 lost 0.34% on the London Stock Exchange. Oil companies were the worst performers, with BP, Total and Shell posting the largest declines within the French and UK benchmark indices.

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