Europe opens lower on gloomy economic outlook - Breaking The News

Europe opens lower on gloomy economic outlook

6 July

1 min read

EPA-EFE/CHRISTOPHE PETIT TESSON

European stock exchanges opened with losses on Thursday as gloomy global economic outlook fueled up the negative sentiment after the Federal Reserve hinted that monetary tightening could continue at a moderated pace. Meanwhile, activity in the services sector in the Eurozone, Britain, and China slowed in June.

In the coming hours, investors will receive the latest figures on the euro area's retail sales and construction PMI in Britain.

London's FTSE dropped 0.68% as Ocado Group Plc. plunged 3.45%, The CAC 40 plummeted 1.07% with BNP Paribas tumbling 2.34%. Frankfurt's DAX slid 0.77% and the Euro Stoxx 50 fell 0.84% as Vonovia SE lost 2.64%.

The euro added 0.09% against the dollar, trading at $1.08654 at 9:00 am CET. The pound was flat versus the greenback, selling at $1.27080.

european markets

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