Europe opens mostly flat with earnings in focus

Wednesday, 27. April 2022 09:04

Major European stock market indexes opened mostly flat on Wednesday as shareholders closely monitor developments in the Ukrainian crisis. On the business front, Credit Suisse, Deutsche Bank, Mercedes-Benz, and GSK released their first-trimester earnings reports. Meanwhile, Germany's consumer confidence is expected to decline in May.

Earlier, Gazprom confirmed it will halt its gas supplies to Poland and Bulgaria as they refused to pay for Russian gas in rubles, while the Hungarian Foreign Ministry confirmed the country will comply with Moscow's request. Furthermore, the German DWS Group announced it will halt its investments in Russian securities due to the recent geopolitical situation in the region.

The DAX was flat at the opening bell. London's FTSE 100 was flat too, while the CAC 40 decreased by 0.11% as Alstom fell by 0.44%. The euro traded 0.14% higher against the dollar, selling at $1.06223 at 8:56 am CET, while the pound was flat against the dollar selling at $1.25755 a minute later.

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Baha Breaking News (BBN) / AB