Europe opens mostly lower ahead of holiday season

Thursday, 22. December 2016 09:25

European markets opened mostly lower on Wednesday, as trading thinned on major exchanges on the continent ahead of the Christmas Day and its associated holidays. Investors are processing latest news regarding the Italian bank Monte dei Paschi di Siena's state bailout, which is expected to be carried out in separate steps and to last two or three months, according to Il Sole 24 Ore newspaper.

The Italian FTSE MIB index increased 0.11% at 9:06 a.m. CET. Monte dei Paschi dropped 6.75% at 9:18 a.m. CET, before trading in the stock was suspended.

The FTSE 100 shed 0.27% in London at the same time, led down by losses for mining companies.

In Germany, the DAX skidded 0.21% at 9:04 a.m. CET, as ProSiebenSat.1 Media SE, a mass media company, lost 1.30%. 

The French CAC 40 was 0.13% off at 9:06 a.m. CET.

The pan-European Stoxx 50 declined 0.13% at 9:18 a.m. CET, dragged down by Nokia Corp., which fell 4.44% after yesterday's announcement that it is suing Apple Inc. over patent infringement in Germany and the United States.

 

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Author:
Breaking the News / IB