11/9/2018, 9:18 AM (Source: TeleTrader)
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Europe trades lower after Fed keeps interest rates in place

European stock markets traded lower in the first minutes of the Friday trading session the day after the United States Federal Reserve decided to keep key interest rates unchanged while signaling future monetary policy tightening. Meanwhile, investors will focus on the latest news regarding the deadlocked Brexit negotiations, as the United Kingdom's Prime Minister Theresa May tries to scramble a deal before a possible extra EU summit at the end of the month. On the earnings front, Allianz reported a 29% rise in its third-quarter earnings per share.

The FTSE 100 dropped 0.59% in early trading, dragged down mostly by the mining sector. The DAX lost 0.44% shortly after the opening bell, with ThyssenKrupp as the worst early performer. In Paris, the CAC 40 traded 0.71% in the negative territory in the first minutes of trading, with the luxury goods companies Kering and LVMH leading the losses. The euro lost 0.15% against the dollar to sell for 1.1343 at 9:16 am CET, while the pound fell 0.31% versus the US currency to go for 1.3019 at the same time.

Breaking the News / FH