Europe lower premarket ahead of EcoFin meeting

Friday, 10. July 2020 07:55

Major European stock markets traded lower in the premarket on Friday ahead of the meeting of the Council of the European Union's Economic and Financial Affairs Council (EcoFin) about the measures to combat the economic crisis caused by the coronavirus pandemic. The EU leaders and German Chancellor Angela Merkel previously said agreeing on the recovery fund is the bloc's highest priority, although concerns regarding the stimulus talks remain.

The DAX lost 0.32% at 7:41 am CET, while at the same time, the FTSE 100 dropped by 0.46% and the CAC 40 decreased by 0.43%.

The euro declined by 0.14% against the dollar, with the exchange rate of 1.12690 at 7:47 am CET. At the same moment, the pound sterling fell by 0.18% compared to the greenback to sell for $1.25835.

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Breaking the News / JR