Europe opens flat to lower ahead of data, earnings season

Wednesday, 10. January 2018 09:05

Markets in Europe opened flat to lower on Wednesday ahead of a fresh batch of economic data, including the United Kingdom's trade balance and the monthly GDP estimate of the National Institute of Economic and Social Research. Additionally, corporate earnings season kicks off this week.

Oil prices hit three-year highs amid ongoing production cuts by OPEC and non-OPEC countries, while crude oil stocks data is set to be released by the US Energy Information Administration later in the day.

The DAX opened 0.24% in the red led by losses in Continental AG and ProSiebenSat. The CAC 40 started off 0.13% lower as Veolia Environment fell 2.51%. The FTSE 100 began the session 0.03% below the flatline. Meanwhile, the euro was up 0.08% against the dollar at 9:18 am CET, buying $1.1947.

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