Europe opens lower with oil volatility in focus

Tuesday, 21. April 2020 09:01

European markets opened in the red on Tuesday as investors focused on the oil market volatility, corporate earnings and unemployment figures from the UK. West Texas Intermediate (WTI) futures for settlements in June jumped over 4% just hours after WTI May futures plunged below zero for the first time ever amid falling demand due to the coronavirus lockdowns. On the earnings front, SAP and PSA Group reported before the bell, while Kering is set to publish results later in the day.

The FTSE 100 declined 0.59% at 9:00 am CET. Shell led the losses as its stock plummeted 4.22% at 9:01 am CET.

The DAX dropped 1.54% at 9:00 am CET. The worst performer was Infineon whose shares dived 3.60% at 9:02 am CET.

The CAC 40 slid 1.27% at 9:01 am CET with Unibail-Rodamco down 2.86%.

The euro lost 0.25% against the dollar to sell for 1.08342 at 9:03 am CET and the pound decreased 0.24% compared to the greenback to go for 1.24069 at 9:04 am CET.

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Breaking the News / NP