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European stocks open in red after Easter

2019-04-23 08:28 am | Resource: News | No Views : 83

European stocks open in red after Easter
 
European stock markets mixed soon after the opening bell on Tuesday as investors return from the Easter holiday and expect a new set of earnings reports from major companies.

The market is eyeing the start of the season for corporate announcements in Europe today, as well as data on government debt and consumer confidence in the euro area. Twitter and Coca-Cola will be among the companies that will publish their quarterly results later today.

In the United States, the Trump administration decided to end exemptions from Iran's oil sanctions, in an attempt to raise the Islamic Republic's crude exports to zero. Iran called US sanctions, which pushed oil prices to new record highs, "illegal" and claimed that the exemptions offered to them were "worthless". TOKYO (Reuters) - Japan expects a limited impact on the United States' decision not to renew its previous exemptions from Iran's oil import sanctions, Japan's trade and industry minister said on Tuesday.

The White House confirms Trump's plan to end Iran's sanctions exemptions

The White House announced on Monday that US President Donald Trump would stop granting exemptions for some countries to import Iranian crude despite US sanctions on the Islamic Republic. The move is part of Trump's efforts to bring Iranian oil exports to zero after Washington withdraws from the Iranian nuclear deal of 2015.

"President Donald Trump has decided not to reissue the significant reduction exceptions when they expire in early May," the White House said. "This decision aims to raise Iranian oil exports to zero and deprive the regime of its main source of income."

The White House said Saudi Arabia and the United Arab Emirates had agreed to "take timely action to ensure that global demand is met with the removal of all Iranian oil from the market."

European stocks traded
  • The FTSE 100 rose 0.11% a few minutes after the opening bell, raised by oil companies.
  • The DAX index lost 0.16% at the beginning of trading, with the worst performance.
  • At the same time, the CAC 40 index was trading 0.20% in the negative territory, affected by ArceloMittal.
  • At the beginning of the session, the STOXX Europe 600 index shed 0.25% to 389.4 points.

The euro dropped 0.13% against the dollar to sell against 1.1242 at 9:16 CET, while the pound remained steady against the dollar to reach 1.2984 at the same time.


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