7/1, 9:04 AM (Source: TeleTrader)
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Europe opens lower prior to key inflation data

Major European stocks kicked off the last trading session of the week in the negative territory as investors awaited the preliminary results of the inflation readings for the Eurozone and Italy.

The euro area is on the brink of entering a "technical recession" due to shortages of gas supplies, Fitch Ratings noted in its report published yesterday, especially since there are no hints of the war on Ukraine subsiding in the near future.

The DAX plunged 1.20% or 153 points at the opening bell, as the FTSE 100 lost 0.87% and the CAC 40 fell by 1.10%. The euro tumbled 0.27% against the dollar to sell for 1.04555 at 9:03 am CET, while the pound decreased by 0.48% to $1.21191.

Baha Breaking News (BBN) / ND