Major European stock indexes traded lower at the open on Thursday, as investors awaited the latest batch of economic reports. Market analysts are expecting inflation in Germany to jump to 9.4% in September. The traders will also be looking out for the euro area consumer confidence report. Economic worries seemingly offset the short-lived optimism the Bank of England's most recent monetary policy decision brought.
The DAX declined 0.35% at the opening bell, as Zalando slid 4.08% at 9:04 am CET. The CAC 40 fell 0.32% at 9:00 am CET, as Veolia Environnement tumbled 1.81% at 9:03 am CET. The FTSE 100 decreased 0.68% at the open, with Barratt Developments nosediving 8.31% at 9:03 am CET. The euro lost 0.73% against the dollar at 9:06 am CET, selling for 0.96636. The pound tumbled 1.04% down versus the greenback, going for 1.07791 a minute later.
Not long after the open, all three indexes extended losses significantly, with DAX tumbling 1.60% or 195 points at 9:22 am CET, CAC 40 plummeting 1.33% and FTSE 100 plunging 1.70% at the same time.
