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Europe is down in early trade, the DAX index is losing 1.51 percent

2019-05-31 07:45 am | Resource: NEWS | No Views : 94

 Europe is down in early trade, the DAX index is losing 1.51 percent

Europe's main stock markets were trading in the red zone shortly after Friday's session, amid uncertainty about global trade and somewhat frightening economic data published ahead of the opening bell.

 US President Donald Trump raised fears of a war of trade after he announced that Washington would impose a 5 percent tariff on all Mexican goods on June 10. House prices in the UK also fell in May
  • Stocks fell today after the United States escalated the dispute over illegal immigration by announcing a tariff on goods from Mexico.
  • The administration in Washington is already engaged in a trade war with China
  • While US tensions are already escalating with Iran and North Korea.
  • Moreover, there is a risk for the future of the Eurozone amid Italy's renewed budget with the EU.
  • The yield on the 10-year German Bund dropped 2.6 points to 0.197% negative, the weakest since it hit a low of 6 July 2016 at 0.205% minus. However, in some markets the level has already been touched.

Deutsche Bank falls to its lowest level ever with lower interest rates

Investors showed growing concerns on Friday about the sustainability of Deutsche Bank AG, sending its shares down 2% to 6.069 euros, a record low at 9:01 am CET. The lender's bank was sliding with interest rates, which are largely determined according to movements of return on German government debt.

The transformation accelerated in parallel with a series of factors, regardless of the financial giant's quest for funds to cover another planned restructuring.
  • The euro traded up 0.07% against the dollar, trading at 1.1138 at 9:14 CET.
  • While the pound rose 0.04% against the dollar, reaching 1.2613 at the same time.

European Stocks Open
  • The DAX lost more than 180 points, dropping 1.53% at 9:14 am, driven by a 4.66% loss of AirCard.
  • In London, the FTSE 100 lost 0.81% shortly after the opening bell.
  • While the CAC 40 index lost 1.15% due to losses of the automotive industry and Valeo fell 4%.

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