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European stocks open flat after German producer price data

2019-09-20 07:29 am | Resource: News | No Views : 67

 European stocks open flat after German producer price data

Most European stock markets were flat at the opening bell on Friday, after data from Germany showed a less-than-expected annual increase in producer prices and a 0.5% monthly decline.

At the same time, doubts about Brexit and trade continued. Although European Commission President Jean-Claude Juncker has said he believes the Brexit deal is possible, no tangible progress has been revealed in talks with London. In the United States, China's vice-level talks are being held in Washington.

German producer prices are up 0.3% in August

Producer prices in Germany rose by 0.3% in August compared to the same month last year, the National Statistical Office Destatis announced on Friday. In July, the producer price index rose 1.1%.
  • Electricity prices, which rose 6%, contributed to the annual rise. However, energy prices as a whole fell 0.3% in August. Except energy
  • The PPI rose 0.6% compared to the same month in 2018.
  • The prices of non-durable consumer goods rose 1.7%,
  • Capital goods prices rose 1.5%, consumer durable goods prices rose 1.3%
  • While the prices of intermediate goods grew 0.9%.
  • On a monthly basis, the producer price index fell 0.5% in August compared to July.

Lagarde: Global growth 'fragile' and 'threatened'

Global growth is "fragile" and "particularly threatened" by trade tensions, outgoing IMF chief Christine Lagarde said Thursday in an exclusive interview with AFP in Washington. Lagarde, who will be president of the European Central Bank starting in November, urged state leaders to try to "resolve the uncertainties surrounding the world," referring to the US-China trade war affecting trade around the world, as well as to Brexit. That makes Europe's future bleak.

European shares open
  • The DAX and CAC 40 stabilized at 9:03 am CET
  • London's FTSE 100 fell 0.37%.

The pound rose 0.37% compared to the dollar at 9:04 CET to 1.25704 euros. The euro rose 0.18% against the dollar at the same time, buying $ 1.10606.

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