Europe opens lower amid economic updates

Thursday, 22. October 2020 09:01

Major European stock markets opened lower on Thursday as the updates on current economic conditions take focus in today's trading session. GfK revealed consumer confidence in Germany had further worsened in November amid new spikes in cases of COVID-19. The preliminary results for the European Union in the same field will be published later in the day. The traders are also waiting for new forecasts by European Central Bank's Fabio Panetta, as well as by Bank of England's Andrew Bailey and Andy Haldane.

The DAX traded 0.92% lower at the opening as MTU Aero Engines NA declined by 2.36%. The FTSE 100 went down by 0.55% with the International Consolidated Airlines Group SA decreased by 4.36%. The CAC 40 fell by 0.56% as Unibail-Rodamco-Westfield sank 4.93%.

The euro stood dropped by 0.13% against the dollar to sell for $1.18448 at 9:02 am CET. The pound sterling lost 0.16% to the United States' currency to exchange hands for $1.31274 at 9:03 am CET.

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Author:
Breaking the News / JR