Europe opens lower ahead of data

Wednesday, 15. November 2017 09:10

Markets in Europe opened in the red on Wednesday ahead of economic data and falling oil prices after the International Energy Agency (IEA) released its monthly oil report. The IEA cut its estimate for the increase in oil demand by 100,000 per day for both 2017 and 2018. International benchmark Brent for January delivery fell 0.96% to $61.58 per barrel at 9:14 am CET, while WTI for December declined 0.93% to $55.34 per barrel at 9:15 am CET.

Meanwhile, investors await the UK's unemployment figures for September and trade data for the eurozone, as well as more corporate earnings.

The DAX started off 0.53% lower led by losses in RWE AG as it declined 2.45% following its third-quarter results. The CAC 40 lost 0.22% at the start of the session; TechnipFMC was the worst performer, decreasing 2.24%. The FTSE 100 fell 0.39% at the open. The euro gained 0.26% against the dollar at 9:17 am CET, buying $1.18235, while the pound was up 0.11%versus the greenback at the same time, going for $1.31740.

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Author:
Breaking the News / JC