Europe trades lower amid Brexit worries

Thursday, 10. January 2019 09:15

European stocks were in the red in early trading on Thursday on worries about the upcoming parliamentary vote on the Brexit withdrawal agreement. The UK government agreed to accept an amendment which states that the Parliament will only accept Prime Minister Theresa May's deal in case the European Union provides "further assurances" regarding the Irish backstop. Meanwhile, Labour threatened to call for a general election in case May's agreement is rejected by UK lawmakers. Investors also digested United States Federal Reserve's minutes, which noted that the central bank can "afford to be patient" with further rate hikes.

The FTSE 100 lost 0.49% at 9:14 am CET. BHP Group led the losses as its shares plunged 6.24% at 9:23 am CET.

The DAX fell 0.70% at 9:15 am CET with Continental, down 2.91% at 9:17 am CET.

The CAC 40 slid 0.84% at 9:14 am CET and the Euro Stoxx 50 declined 0.66% at 9:16 am CET. Safran, which dropped 3.43% at 9:24 am CET, was the worst performer on both indexes.

The euro traded flat against the dollar to go for 1.1554 at 9:17 am CET, while the pound decreased 0.27% compared to the greenback to sell for 1.2766 at 9:18 am CET.

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Breaking the News / NP