Europe opens lower, Fed rate hikes, tariffs in focus

Thursday, 22. March 2018 09:04

Stock markets in Europe opened lower on Thursday as investors digested yesterday's United States Federal Reserve decision to raise interest rates by 0.25% to between 1.5% and 1.75%, with two other hikes planned this year. Markets are also bracing for US President Donald Trump's expected announcement of tariffs on Chinese imports later today. Meanwhile, a new set of Eurozone data is coming up, as well as US jobless claims. The Bank of England is deciding on interest rates later on, and European leaders are coming together for a summit with Brexit and the diplomatic tensions with Russia in focus.

The FTSE 100 opened 0.83% in the red. Asset management company Schroders Plc lost 2.84%

The German Dax slipped 0.98% at the opening bell, as Commerzbank AG fell 2.05% amid reports it is developing an e-banking platform.

The Cac 40 in France declined 0.78% at the start of the session, with banking group BNP Paribas shedding 1.39%.

The euro was 0.25% higher against the dollar and sold for 1.23705 at 9:02 am CET, while the pound gained 0.14% compared to the dollar to go for 1.4159.

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