Stocks in EU decline in premarket before BoE

Thursday, 01. August 2019 08:16

Investors showed some risk aversion and caution on Thursday before the opening bell on the main equity markets in Europe but gold and silver, which are normally safe haven assets, also moved downward. Exchange rates and oil prices were largely steady in the runup to the monetary policy update by the Bank of England. The United States Federal Reserve yesterday lowered interest rates for the first time in nearly 11 years and recent remarks by officials from major central banks indicated they may race to support their economies and reposition according to their peers' moves.

The euro slipped 0.25% at 8:14 am CET to $1.10476 and added 0.06% to trade at £0.91124. The pound declined 0.31% to $1.21221. Gold fell 0.39% to $1,407.22 per ounce and silver weakened 1% to $16.1 for one troy ounce.

The FTSE 100 was down 0.15% in the premarket in London while the German DAX lost 0.3%. The CAC 40 was 0.25% in the red and the Euro Stoxx retreated 0.46%.

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