8/26/2020, 9:02 AM (Source: TeleTrader)
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Europe opens lower with US-China trade talks in focus

European markets opened with losses on Wednesday as trade talks between China and the United States continued despite recent tensions. However, news of "progress" in implementing the phase one trade deal between the world's largest economies was offset by economic concerns over the coronavirus pandemic.

Germany extended its jobs support scheme until the end of the year in an effort to support the economy. In Spain, Prime Minister Pedro Sanchez announced the military would help regional governments with COVID-19 contact tracing amid a surge in new virus cases.

The DAX was down 0.32% in the first minute of trading but crossed over into positive territory as Deutsche Bank led the gainers. The FTSE 100 declined 0.21% at the open. Meanwhile, the CAC 40 lost 0.39%; Safran and Airbus were the worst performers.

Breaking the News / JC