Europe opens lower amid economic recovery talks

Friday, 10. July 2020 09:01

Major stock markets in Europe opened lower on Friday ahead of the meeting of the Council of the European Union's Economic and Financial Affairs Council (EcoFin) later in the day. EcoFin, which comprises the economics and finance ministers of the EU members, is expected to talk about the rescue fund that should aid the bloc's economy severely hit by the coronavirus pandemic.

The DAX traded lower by 0.42% at the opening bell as Deutsche Bank AG dropped by 2.24%. The FTSE 100 fell by 0.73% with Antofagasta PLC decreasing by 1.98%. The CAC 40 lost 0.61% with L'Oreal descending by 1.81%.

The euro declined by 0.20% compared to the dollar to sell for $1.12624 at 8:57 am CET, while at the same time, the pound sterling decreased by 0.19% to the greenback to exchange for $1.12628.

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Breaking the News / JR