Europe opens lower before data, May speech

Friday, 02. March 2018 09:05

Stock markets in Europe opened lower in expectation of a new set of data and a speech by United Kingdom's Prime Minister Theresa May. Ahead of the open, German retail sales report showed turnover increased by 2.3% in January. UK construction data and EU producer price index and coming up later in the day. Meanwhile, May is expected to lay out further clarifications of the UK's Brexit goals after the European Union released an official draft of the withdrawal agreement. The indexes are also expected to react to United States President Donald Trump's announcement that the country will impose import tariffs on steel and aluminum.

The FTSE 100 was 0.41% lower at the start of the session. Advertising company WWP Plc lost 2.34%.

German DAX lost 1.12% at the opening bell, as Deutsche Boerse AG declined 1.71%.

French Cac 40 started the day 0.94% in the red. Building materials manufacturer LafargeHolcim was 3.95% in the red amid overhaul news.

The euro was almost flat against the dollar, losing 0.03% and sold for 1.2259 at 9:07 am CET, while it was up 0.07% compared to the British pound and went for 0.8908.

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