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European markets continue to decline during early trading

2019-03-06 12:06 pm | Resource: NEWS | No Views : 165


 
European stocks continued to fall in the primary market and opened mostly in the red zone on Wednesday as uncertainty continued over Britain's exit from the European Union.

Earlier reports showed that the United Kingdom may have to postpone its trip from the EU even if Prime Minister Teresa May's agreement was accepted. On the other hand, investors encouraged Italian Deputy Prime Minister and Minister of Labor and Industry Luigi de Mayo to announce that Italy will reach the growth target for 2019.

  De Mayo will meet the growth target for 2019

Italian Deputy Prime Minister and Minister of Labor and Industry Luigi de Mayo said on Thursday that his country would meet the growth target for 2019, according to local media. Meanwhile, Italian Senate and Finance Committee member Alberto Bagnay stressed that planned growth would reduce Of concerns in the management of Brussels.

Last week, Prime Minister Giuseppe Conte said he expected growth in the second half of 2019 as his government worked towards stabilizing the economy.

London to impose tariffs in the absence of an exit package

British Trade Minister Greg Clark said on Wednesday that London would set its final tariff policy if it leaves the EU without an agreement. The minister, speaking on BBC Radio, stressed that UK exports would face EU tariffs in the event of a non-dealing scenario, which would lead to London's response to similar measures. Clark also predicted that industries in the UK would fall if tariffs were put into effect.

"This will only happen if we leave without an agreement on March 29," Clarke said. "So in these circumstances, work on developing these tariff schedules will continue and finalize, but it will be published, as soon as we know we will leave without a deal on March 29."

Earlier in the day, reports emerged that London would have to delay Britain's exit from the EU even if the Green House of Commons shines Prime Minister Teresa Mae's agreement because there is not enough time to pass the necessary legislation before the planned divorce from Brussels on March 29.

European Stocks Open
 
  • The FTSE 100 rose 0.18% at 09:15 CET.
  • However, the DAX fell 0.26% at 9:16 CET.
  • While the CAC 40 index was 0.12% at 9:03 CET.

The euro was steady against the dollar to reach 1.13055 at 9:16 CET.


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