5/17, 8:57 AM (Source: TeleTrader)
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Europe in the red during premarket trading

Major markets in Europe were lower during premarket trading in London, Paris and Frankfurt on Friday as investors followed developments on Britain's withdrawal from the European Union. Prime Minister Theresa May agreed to set her resignation date after the next parliamentary vote on the Brexit withdrawal bill, following intense pressure from members of her Conservative Party. Meanwhile, Germany's Christian Democratic Union (CDU) Leader Annegret Kramp-Karrenbauer said earlier today that European People's Party (EPP) will not be forging alliances with Italy's Northern League.

The FTSE 100 was 0.34% lower during premarket trading, while the French CAC 40 dropped 0.50% shortly before the markets opened. The DAX decreased 0.48%.

The euro was virtually flat against the greenback to go for 1.1182 at 8:58 am CET.

Breaking the News / BM