3/3, 7:37 AM (Source: TeleTrader)
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Europe higher premarket ahead of UK budget

European shares were higher during premarket trading on Wednesday ahead of the release of the UK's annual budget.

Chancellor of the Exchequer Rishi Sunak is set to lay out the government's tax and spending plans amid the coronavirus pandemic. Meanwhile, investors awaited Stellantis' earnings report as well as Markit PMI reports for the UK, Germany and the European Union.

The DAX was up 0.44% at 7:25 am CET, while the FTSE 100 climbed 0.70%. The euro declined 0.07% against the dollar at 7:35 am CET, buying 1.20803. At the same time, the pound was down 0.16% compared to the greenback, going for 1.39440.

Breaking the News / JC