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10/16, 7:44 AM (Source: TeleTrader)
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Europe in red premarket after IMF lowers global outlook

European equities traded lower on Wednesday after the International Monetary Fund announced it was cutting its global economic growth forecast. Media reported the United Kingdom and the European Union were close to drafting a Brexit agreement. Reportedly, Germany wants to postpone Britain's withdrawal even if the deal was reached to completely resolve the issue of the Irish backstop.

The FTSE 100 was down 0.24% at 7:36 am CET, while the DAX lost 0.18% a minute later. The CAC 40 was 0.10% lower.

The euro traded flat against the dollar at 7:38 am CET, to sell for 1.10320. The pound dropped 0.25% at the same time against the greenback to go for 1.27532.

Breaking the News / MD