Europe opens lower as global sentiment slumps

Friday, 19. March 2021 09:01

European markets opened lower on Friday following losses on both Wall Street and across Asian markets. Global sentiment was dampened by rising bond yields despite key central banks offering dovish forecasts this week. Officials from the Federal Reserve and Bank of England maintained their intentions of keeping current policies in place until clear signs of a more robust economic recovery have been observed.

The DAX fell 0.53% in the first minute of trading in Frankfurt; engine manufacturer MTU Aero Engines was the weakest performer on the DAX, sinking about 2% at the open. Meanwhile, the CAC 40 lost 0.63% as STMicroelectronics led the losses. The FTSE 100 opened 0.85% in the red with Scottish Mortgage tanking nearly 4%.

The euro rose 0.14% against the dollar at 9:15 am CET, buying 1.19326. At the same time, the pound was up 0.15% compared to the greenback to go for 1.39442.

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