Europe opens lower ahead of ECB rate decision

Thursday, 09. June 2022 09:03

Europe's major stock indexes opened lower on Thursday ahead of a key interest rate decision to be taken by the European Central Bank (ECB). Investors are also keeping their attention on the Ukrainian conflict and the economic problems resulting from it.

Previously, Deutsche Bank AG projected that the ECB would decide to raise its key interest rates by 50 basis points. In addition, European leaders learned yesterday that United State President Joe Biden would be visiting Germany and Spain in June to attend the Group of Seven Summit and the North Atlantic Treaty Organization meeting.

The DAX lost 0.52% at 9:01 am CET, with Deutsche Telekom AG down by 0.33%. The CAC 40 fell 0.62%, while Louis Vuitton decreased by 1.96%, and the FTSE 100 declined 0.52% a minute later, as J. Sainsbury dropped by 4.99%. The euro was flat against the dollar at 8:58 am CET, selling for $1.07166. In comparison, the pound was down by 0.18% to go for $1.25127 at the same time.

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Author:
Baha Breaking News (BBN) / JG