Europe trades with losses as UK-US relationship suffers

Tuesday, 09. July 2019 09:17

Major European stock indexes traded lower on Tuesday as the United Kingdom and the United States found themselves entangled in a diplomatic scandal after the UK's Ambassador to Washington Sir Kim Darroch was blacklisted in a tweet by President Donald Trump after leaked cables showed that Darroch called Trump "incompetent." Market watchers also paid attention to the overhaul at Deutsche Bank and awaited remarks from Fed's Jerome Powell which are due later in the day.

The DAX fell 0.72% at 9:15 am CET. Bayer spin-off Covestro and BASF were the worst trading stocks in the index, dropping 5.87% and 4.79%, respectively, at 9:20 am CET.

The FTSE 100 was 0.09% in the red at 9:15 am CET.

The CAC 40 declined 0.17% at 9:16 am CET, with banks among the biggest losers.

The euro lost 0.6% compared to the dollar to go for 1.12071 at 9:14 am CET. At the same time, the pound was 0,23% down against the greenback, trading for 1.24858.

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Author:
Breaking the News / VP