Europe opens in the red amid EU budget concerns

Friday, 20. November 2020 09:03

Major European stock market indexes opened in the red on Friday as the European Union's budget agreement is still pending after the veto from Hungary and Poland. On the economic data front, Germany announced a 0.7% drop in producer prices in October, while British retail sales jumped by 1.2% in the same month, and the European Commission is expected to release the EU consumer confidence data later in the day. Meanwhile, uncertainty due to the coronavirus situation escalates after Germany's new daily record high infections.

The DAX went down by 0.24% at 9:01 am CET, as MTU Aero Engines dropped by 0.66% at 9:10 am CET. One minute after the opening bell the CAC 40 lost 0.23%, as ALSTOM moved 1.06% lower at 9:17 am CET. The FTSE 100 declined by 0.13% at 9:01 am CET, while Smurfit Kappa Group performed a downtrend of 4.16% at 9:18 am CET.

The euro decreased by 0.06% to go for $1.18710 at 9:07 am CET while the pound went down by 0.17% at 9:08 am CET, going for $1.32525.

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