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10/17/2018, 5:37 PM (Source: TeleTrader)
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Europe closes lower, Italy's budget, Brexit in focus

Markets across Europe closed lower on Wednesday as investors focused on political uncertainties surrounding Italy's 2019 budget plan. European Union Budget Commissioner Gunther Oettinger denied claims that the EC already rejected Rome's final budget draft presented on Monday. Meanwhile, United Kingdom Prime Minister Theresa May was welcomed by European Commission president Jean-Claude Juncker prior to the EU summit in Brussels.

The FTSE 100 closed 0.06% lower. British American Tobacco was the biggest winner, rising 3.38%, while Easyjet was the biggest laggard, dropping 4.96%. The CAC 40 ended the session 0.54% in the red as the automotive industry dragged the index down, with Peugeot plunging 4.62%. The German DAX was down 0.52% at the closing bell, Fresenius Medical Care plunged 16.50% after it reported lower-than-expected third quarter income.

The euro lost 0.31% against the greenback, going for 1.1538 at 5:59 pm CET.

Breaking the News / BM