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6/12, 8:55 AM (Source: TeleTrader)
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Europe continues premarket slump

European equities continued trading in the red in premarket on Wednesday amid ongoing trade tensions. Earlier in the day, the price of oil fell 1.5% after a worse-than-expected report from the American Petroleum Institute (API) indicated a substantial increase in United States crude stockpiles. However, precious metals traded mostly in the green with gold prices jumping after hitting a one-week low during the previous session.

The DAX was down 0.58%, the CAC 40 lost 0.59% and the FTSE 100 fell 0.43%, all at 8:54 am CET. The euro gained 0.06% against the dollar to go for 1.13336 at 8:54 am CET while the pound was flat against the greenback to go for 1.2724 at the same time.

Breaking the News / DZ