Europe opens lower with Brexit in focus

Friday, 18. December 2020 09:01

Shares on the major stock market indexes in Europe opened the session in the red on Friday, as the investors focused on the trade deal negotiations between the United Kingdom and the European Union. In the latest stretch of the talks, Brussels has been sending optimistic messages, stating that "substantial progress" has been made in the talks, while the UK hinted, on multiple occasions, that a no-deal scenario could be in the cards for the two sides.

On the data front, the producer prices in Germany decreased by 0.5% in November, while retail sales in the UK fell less than expected, sliding 3.8% in the eleventh month. Later in the day, the Institute for Economic Research (Ifo) is scheduled to release its report on the German business climate.

The DAX dipped 0.18% at the start of the session with Merck Group losing 1.37% at 9:02 am CET. The CAC 40 declined by 0.37% as the trading started with Airbus SE down by 1.46% at 9:02 am CET. Meanwhile, in London, the FTSE 100 stood flat but turned to losses a minute into the session. The euro weakened by 0.11% compared to the dollar, selling for 1.22488 at 8:59 am CET, while the pound dived 0.26% versus the greenback to go for 1.35255 at the same time.

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