Europe opens in red on weak earnings, data

Thursday, 13. August 2020 09:03

The major stocks indexes in Europe opened lower on Thursday as Ifo Institute for Economic Research said that it will take at least 11 months for German companies to bring back their businesses to normal. Consumer prices in Germany also decreased by 0.1% in July. Meanwhile, ThyssenKrupp reported a net loss of €668 million in the third quarter while the tourist operator Tui revealed its revenue fell by 98.5%.

The DAX lost 0.11% at 9:02 am CET. Wirecard AG was the worst performer four minutes later falling by 7.58%. The CAC 40 dropped 0.30% at the opening bell with Airbus going down by 2.34%. At the session's start, in London, the FTSE decreased by 0.85% as Legal & General Group Plc plunged by 3.38%.

The euro increased by 0.36% against the dollar, selling for $1.18272 at 8:57 am CET. A minute after that, the pound rose by 0.27% against the greenback, selling for $1.30715.

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Breaking the News / TF