Europe opens lower amid inflation uncertainty

Friday, 29. October 2021 09:06

Major European stock markets opened lower on Friday ahead of German GDP, United Kingdom mortgage approvals and European Union GDP and inflation data releases expected later in the day.

The European Central Bank remarked that it does not plan to raise interest rates until it sees inflation reaching 2% "well ahead of the end of its projection horizon." Earnings reports from Daimler and BNP Paribas were mixed.

The DAX was 0.79% in the red at open with Fresen down 3.39%. The FTSE 100 was down 0.72% while the CAC 40 opened 0.49% lower with STMicroelectronics declining 1.96%. The euro was down 0.15% against the greenback at 8:59 am CET while the British pound was down 0.7%, changing hands for 1.16629 and 1.37814 respectively.

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Author:
Baha Breaking News (BBN) / IB