Europe opens lower as Davos summit continues

Tuesday, 24. May 2022 09:04

Major European stock indexes traded with loss at the open on Tuesday ahead of the reports on the services and manufacturing sectors in the United Kingdom, Germany, and the Eurozone and the continuation of the World Economic Forum (WEF) in Davos.

Earlier, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated that the global economic outlook has worsened since the institution's last prediction, while Dutch Prime Minister Mark Rutte asked for a consensus in the European Union regarding the Russian oil embargo.

The DAX moved down by 0.95% at 9:02 am CET, pulled down by RWE AG's 4.44% fall, while London's FTSE 100 went down by 0.95% at 9:02 am CET as Sse PLC plunged 8.22% and the CAC 40 decreased by 1.14% at 9:01 am CET with LVMH Moet Hennessy Louis Vuitton SE's 2.00% fall.

The euro went up by 0.28% against the dollar, selling at $1.07205 at 9:12 am CET, while the British pound stood flat against the dollar to go for $1.25948 at 9:13 am CET.

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