5/31/2019, 7:47 AM (Source: TeleTrader)
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Europe drops premarket on trade, Brexit uncertainty

Equities on major stock markets in Europe traded lower premarket on Friday as Brexit and trade concerns caused investors to pull back. The Confederation of British Industry warned the consequences of the United Kingdom's withdrawal from the European Union without a deal would be "severe," stating "vast majority" of British firms weren't prepared to deal with the consequences. Meanwhile, United States President Donald Trump announced Washington will impose a 5% tariff on all Mexican imports while claiming firms were leaving China to avoid US levies.

In the UK, the FTSE 100 was down 0.40% at 7:40 am CET. The DAX fell 0.74% at 7:44 am CET, as the CAC 40 decreased 0.63%.

The euro and the pound were flat at 7:46 am CET, changing hands for $1.11320 and $1.26133 respectively.

Breaking the News / MD