Europe opens in red amid economic data

Friday, 02. December 2022 09:01

European stock exchanges opened the trading session on Friday below the flatline with investors closely watching the release of economic data in the region. After the opening bell, the report on the euro area's producer price index (PPI) will be published, while market participants will also look ahead to the United States' nonfarm payroll employment report.

European Central Bank warned that monetary tightening by the Federal Reserve had an equal impact on industrial output in the eurozone and the US.

London's FTSE 100 dropped by 0.25% as Prudential plc slumped by 1.79%. The CAC 40 fell by 0.37% with Axa SA slipping by 0.97%. Frankfurt's DAX dipped by 0.13% with Allianz losing 1.03%.

The euro rose 0.10% against the dollar, going for $1.05338 at 8:55 am CET. At the same time, the pound sterling gained 0.18% over American currency, to change hands to $1.22632.

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