6/12/2019, 9:18 AM (Source: TeleTrader)
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European markets trade lower with trade in focus

Equities on major stock markets in Europe were lower shortly after the beginning of Wednesday's trading session with investor focus remaining on the ongoing trade war between the United States and the upcoming elections for the prime minister in the United Kingdom. Irish Prime Minister Leo Varadkar warned the Withdrawal Agreement will not be renegotiated despite a change in UK's leadership. Meanwhile, in business, Dassault Systemes announced it has reached a deal on acquiring Medidata Solutions for $5.8 billion, while KKR & Co. is supposed to launch a public tender for all outstanding shares of Axel Springer after agreeing on a strategic partnership.

The FTSE 100 was down 0.35% shortly after the opening bell, with British American Tobacco losing 1.60%. The DAX slid 0.30%, weighed on by Adidas AG's 1.56% drop. At the same time, the CAC 40 fell 0.47% as TechnipFMC decreased 1.62%.

The euro and the pound were both virtually flat at 9:14 am CET, changing hands for $1.13315 and $1.27265 respectively.

Breaking the News / MD