Europe trades lower...9 May 2019 08:05
Europe lower in premarket with trade, earnings in focus
European stock markets fell in Thursday's premarket trading as investors monitor the latest developments in the trade negotiations between the United States and China, while digesting a fresh series of earnings reports. Yesterday, the US officially announced it will raise tariffs on $200 billion worth of Chinese goods from 10% to 25% starting tomorrow. The announcement comes after US President Donald Trump accused China of pulling back in trade talks because it believes it will be able to "'negotiate' with Joe Biden or one of the very weak Democrats." However, Chinese Vice Premier Liu He is still set to visit Washington later today in an effort to reach a resolution to the trade dispute, despite Trump saying that China "broke the deal."
On the earnings front, ArcelorMittal, Deutsche Telekom and UniCredit posted their quarterly results earlier today, while Dropbox is set to post its figures after Wall Street closes for trading.
The FTSE 100 was down 0.43% in premarket trading, while the DAX lost 0.28% at the same time. In Paris, the CAC 40 traded 0.53% in the negative territory before the opening bell. The euro was 0.05% higher against the dollar to sell for 1.1197 at 7:56 am CET, while the pound added 0.13% versus the greenback to change hands for 1.3022 at the same time.
Breaking the News / FH