Europe sharply lower...23 May 2019 08:28
Europe sharply lower in premarket amid Brexit worries
European stock markets traded sharply lower during Thursday's premarket session as investors monitor the latest developments in the process of the United Kingdom's withdrawal from the European Union. Yesterday, British Prime Minister Theresa May presented MPs with her latest, modified Brexit proposal, which includes a vote on the possibility of a second referendum and a customs arrangement with the EU. The Withdrawal Agreement Bill is set to be published on Friday, but a growing number of MPs have reportedly voiced their opposition to the legislation. However, pressure is mounting on May to step down, with several reports claiming she might resign over the coming days.
On the data front, German GDP numbers and PMI data are set to be published before the bell, as well as Eurozone PMI and IFO Business Climate report.
The FTSE 100 was 0.45% lower in premarket trading, while the DAX fell 0.63%. In Paris, the CAC 40 lost 0.47% an hour before the opening bell. The euro was unchanged against the dollar, selling for 1.1149, while the pound decreased 0.16% versus the greenback to go for 1.2643 at the same time.
Breaking the News / FH