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European stocks are mixed ahead of the ECB interest rate decision

2019-07-24 07:50 am | Resource: News | No Views : 47

European stocks are mixed ahead of the ECB's interest rate decision

Major European stock markets traded early on Wednesday as investors awaited news of continuing trade talks between Washington and Beijing and amid the earnings season. The PMI data in Germany and the euro area will be published later in the session, while the European Central Bank is expected to announce its decision on a possible rate cut tomorrow.

Deutsche Bank fell 3.27% due to overall repair costs

Shares of Deutsche Bank AG fell on Wednesday as market participants were overwhelmed by the pace of restructuring highlighted by CEO Christian Sewing. The second-quarter net loss was 3.15 billion euros, or 350 billion euros, higher than that of the struggling lender. Some investors have been very skeptical about this shift due to the track record of reforming the German financial institution since the financial crisis began more than a decade ago.

The shares opened lower by 2.87% to 6.929 euros. They traded at € 6.901 at 9:05 am CET or 3.27% in the red zone, after losing more than they did yesterday. The bank's share price fell by one-third exactly in the past year while the benchmark DAX fell just 0.31% in the same period.

European Stocks Open
  • The FTSE 100 fell 0.19% at 9:16 CET .
  • The CAC 40 index also rose at the beginning of the session, led by TechnipFMC plc 3.18% at 9:05 am CET.
  • While the DAX rose 0.06% above the fixed line at the same time. Covestro AG and Infineon Technologies were the best performers, gaining 2.44% and 1.24% respectively, shortly after the opening bell.
The euro was steady against the dollar, trading at 1.1147 at 9:20 CET.

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