Europe sinks in premarket as economy takes focus

Tuesday, 30. November 2021 07:19

Equities in Europe traded lower in the premarket on Tuesday ahead of the release of the reports on Germany's unemployment rate and the Eurozone's consumer prices. Bundesbank President Jens Weidmann will also give a speech on the present situation in the economy, currently marked by the newly found Omicron strain of COVID-19.

Earlier in the day, Germany reported its seven-day incidence rate, which calculates how many people per 100,000 are infected with coronavirus, reached its second-highest ever level.

The DAX declined by 2.09% at 7:11 am CET. At that moment, the FTSE 100 dropped by 1.73%. The CAC 40 decreased by 2.46%. The euro went up by 0.28% against the dollar to sell for $1.13106 at 7:14 am CET. At the same time, the pound sterling stood flat against the greenback to go for $1.33084.

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Author:
Baha Breaking the News (BBN) / JR