3/15/2022, 9:02 AM (Source: TeleTrader)
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Europe opens lower with crisis-hit economy in focus

Major stock markets in Europe opened lower on Tuesday ahead of the release of the reports on the economic sentiment in Germany and the European Union and the industrial production in the bloc. Later in the day, European Central Bank (ECB) President Christine Lagarde will deliver a speech on the current state of the economy.

Earlier, Russia blocked its exports of grains and sugar to the Eurasian Economic Union (EAEU) to address the effect of the sanctions imposed on it over its military intervention in Ukraine. Meanwhile, its armed forces said they have captured the Ukrainian coastal region of Kherson. Previously, Ukraine claimed a Russian drone has entered the territory of the North Atlantic Treaty Organization's (NATO) member Poland.

The DAX opened 1.22% or 170 points lower as Heidelbergcement AG lost 3.06%. The FTSE 100 went down by 0.94%, with Prudential PLC decreasing by 4.25%. The CAC 40 declined by 1.19% as Hermes International SA fell by 2.26%. The euro and the pound sterling gained 0.59% and 0.26% to the dollar at 8:58 am CET to sell for $1.10049 and $1.30359, respectively.

Baha Breaking News (BBN) / JR