European stocks fall at open amid fresh economic data

Friday, 07. October 2022 09:02

Major European stock markets opened Friday in the red territory amid the release of new economic data from Germany and increasing concerns over the global economic outlook.

Before the opening, Germany's Federal Statistical Office (Destatis) published that industrial production in the country went down more than expected by 0.8%. In comparison, retail sales also recorded a decline of 4.3% in August. Besides, Germany's import prices hit the highest level since 1974, surging by 32.7%, and UK annual house price growth went down by 9.9% in September.

The DAX lost 0.45% at 9:00 am CET, with Infineon down by 2.14%. The CAC 40 fell 0.47%, while STMicroelectronics decreased by 2.12%. A minute later, the FTSE 100 declined by 1.12%, as Carnival dropped by 2.44%.

At 8:58 am CET, the euro and the British pound were down by 0.15% and 0.21% selling for $0.97784 and $1.11374, respectively.

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Author:
Baha Breaking News (BBN) / JG