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European stocks fall due to trade concerns Brexit from the European Union

2019-03-20 08:36 am | Resource: News | No Views : 132

Investors were looking for safety on Wednesday in early trading on European equity markets. With heightened sentiment after being alerted to disputes between the United Kingdom and the European Union over the possibility of extending the deadline for submission on March 29.

May asks the European Union to postpone Britain's exit from the European Union

British Prime Minister Theresa May will ask the European Union for a "brief delay" in Britain's exit from the European Union in a speech later on Wednesday, Sky News reported on Wednesday, quoting a senior government source. The request will come one day before the EU summit in Brussels on Thursday, where it will take part in May. The extension of Article 50, or the postponement of Britain's exit from the EU, will be on the agenda.

The postponement is not expected to be delayed more than June 30, as Britain should participate in the European Parliament elections if it remains in the bloc after that date. The focus has also been on US-China trade talks, with unconfirmed news reports that negotiators have found no common ground on important matters.

The German producer price inflation index stabilized in February

Data on preliminary data from the Federal Bureau of Statistics showed on Wednesday that producer price inflation in Germany did not change in February, defying acceleration expectations, after a slowdown in the previous two months.
  • The PPI rose 2.6 percent year-on-year, as in January. Economists had expected a 2.9 percent rise.
  • Producer price inflation was lower than the current rate in May 2018, when it was 2.5 percent.
  • Among major industrial groups, energy prices rose 7.5 percent after falling 0.2 percent in January. Durable consumer goods and capital goods prices rose by 1.6 per cent.
  • Intermediate producer prices rose by 1.1 percent, following a modest 0.1 percent decline at the beginning of the year. Non-durable consumer goods prices rose by 0.8 percent.
  • Excluding energy, producer prices rose 1.3% yoy and 0.1% y / y.
  • On a monthly basis, producer prices fell 0.1 percent after an increase of 0.4 percent in January. Economists had expected a 0.2 percent gain.

European Stocks Open
  • The FTSE 100 was down 0.1% at 8:16 am CET.
  • Germany's DAX  was down 0.82%, with the chemical giant and pharmaceuticals losing 12.2% to land at the bottom of the chart.
  • The CAC 40 index fell 0.23% after a break at the opening bell.

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