Major stock indexes in the Old Continent opened lower on Thursday after the European Union imposed $26 billion worth of countermeasures in response to Washington's introduction of 25% tariffs on steel and aluminum. Economic data is also in focus today, as the Swiss Federal Statistical Office reported that the producer and import price index rose 0.3% in February compared to the previous month, while the Eurozone is set to release industrial production figures later in the day.
The DAX decreased by 0.38% at the open, as Daimler Truck nosedived 8.90%. The FTSE 100 went down 0.29%, with NatWest Group trading 3.41% below the line at 9:01 am CET. At the same time, the CAC 40 dropped 0.14%, dragged down by STMicroelectronics losing 1.39%. The Euro Stoxx 50 fell by 0.27%, as Infineon Technologies declined 2.18% a minute later.
The euro traded 0.23% lower against the dollar, selling for $1.08622 at 8:52 am CET. At the same time, the pound lost 0.12% compared to the greenback to go for $1.29487.
