Europe trades lower ahead of G20

Thursday, 06. July 2017 09:25

European markets opened mixed on Thursday as world leaders started gathering in Europe for the G20 summit in Hamburg that begins on July 7. During the day, all eyes will be on United States President Donald Trump’s speech in Poland and US employment data which is due later in the day.

Germany’s DAX opened higher, but turned to losses in the first 15 minutes of trade and was 0.03% in the red at 9:17 am CET. Prosiebensat was the worst performing stock, declining 2.55% at 9:18 am CET.

The EuroStoxx 50 lost 0.16% at 9:14 am CET, led by Banco Santander, which decreased 1.38% at 9:03 am CET after it pointed out earlier in the week that there are new risks from its takeover of Banco Popular.

France’s CAC 40 declined 0.30% at 9:15 am CET. Catering services firm Sodexco fell 4.14% after it cut its annual sales growth target after a weaker-than-expected third quarter.

The FTSE 100 was 0.08% lower at 9:15 am CET. Retailers were among the worst performers in the index, led by Next plc which lost 3.59% at 9:07 am CET after Credit Suisse downgraded the stock to “hold.”

The euro was flat against the dollar, 0.03% in the green at 9:25 am CET as it went for 1.13566.

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