Europe opens mostly lower ahead of private sector data
Major stock market indexes in Europe opened lower on Friday ahead of the newest reports on the private sector's activity in Germany, the Eurozone, and the United Kingdom. The day before, the European Central Bank (ECB) and the Bank of England (BoE) both raised their key interest rates by 50 basis points and promised more hikes.
The DAX opened 0.65% lower as Porsche AG declined by 2.79%. The CAC 40 fell by 0.42%. The Euro Stoxx 50 decreased by 0.49%. Sanofi SA was the worst performer on the latter two indexes, dipping by 2.87%. Meanwhile, the FTSE 100 stood flat.
The euro lost 0.16% to the dollar at 8:58 am CET to sell for $1.08959. At the same time, the pound sterling went down by 0.33% against the United States currency to change hands for $1.21975.