European equities flat to lower in early trade

Wednesday, 17. April 2019 09:17

Enthusiasm on Wall Street and stock markets in Asia has worn out on Wednesday by the opening bell in major exchanges in Europe. Investors rushed to cash in after major indexes yesterday reached the highest marks in more than half a year despite encouraging economic data from China. The world's second-largest economy expanded 6.4% in the first quarter, surprising on the upside, together with robust increases in industrial production and retail volumes last month. Markets were bracing for inflation reports for the United Kingdom and the Eurozone and the European Union's trade balance figures for February for direction.

The DAX was almost unchanged at 9:15 am CET. Wirecard continued its surge for the third day in a row, becoming the best performer with 4.2% above yesterday's closing level. Deutsche Telekom was at the bottom of the pile as it lost 1.63%. The FTSE 100 dipped 0.23%, mostly pressured by miners and utilities, and the French CAC 40 slipped 0.1%. Sanofi was the worst component in Paris, down 1.7%.

The euro gained 0.3% to $1.13142 and 0.22% to £0.8666. The pound was only 0.05% in the green, selling for $1.30556. Spot gold was 0.15% up at $1,278.78 per ounce, looking to stop a four-day losing streak to a year-to-date low at $1,273.05.

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