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Europe's main stock indexes open mixed amid Brexit poll

2019-09-13 07:20 am | Resource: News | No Views : 22

Europe's main stock indexes  open mixed amid Brexit poll

Europe's main stock indexes were mixed at the open on Friday as investors worried about the outcome of the Article 50 process after a new poll showed that a majority of finance directors believed Britain would leave the European Union without an agreement governing future relations.

The ECB's decision to re-quantify in an attempt to stimulate the faltering euro-zone economy is likely to affect traders' decisions.

Most CFOs expect Britain to exit the deal

On the Brexit side, Britain is likely to leave the EU without an agreement regulating the process and future relationship, as 43.5% of senior finance officials surveyed by CNBC believe.

The survey results released on Friday showed
  • A higher percentage of 52.6% of respondents in Europe, the Middle East and Asia expect this scenario, while 50% of Asia-Pacific financial directors see the UK abandoning the EU.
  • Meanwhile, most US financial managers believe that the withdrawal has been delayed and 30% expect it to collapse.
  • Overall, 32.3% of respondents felt that Brexit was being delayed again, as MPs voted last week. Only 3.2% see a Brexit referendum.
  • On the data front, market participants will participate in new economic data, such as the EU's trade balance.

The British pound rose 0.54% against the US dollar, reaching 1.24000 at 9:00 CET.

Wholesale prices in Germany fall to 3-year lows

German wholesale prices fell at the fastest pace in three years in August, data from the German Statistics Office showed on Friday.
  • Wholesale prices fell 1.1 percent year on year in August, the biggest drop since August 2016.
  • Prices fell 0.1 percent in July, the first decline since September 2016.
  • The annual decline was largely driven by a 6.1 percent drop in wholesale prices of petroleum products.
  • Meanwhile, food, beverage and tobacco prices rose 0.7 percent.
  • On a monthly basis, wholesale prices fell 0.8 percent in August, after July's 0.3 percent decline.

European shares trading
  • The German DAX traded flat shortly after the opening bell.
  • The CAC 40 rose 0.15% in early trading.
  • Meanwhile, the British FTSE 100 lost 0.14% as the session began. 


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