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8/1, 9:12 AM (Source: TeleTrader)
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Europe opens mostly lower on German retail sales data

European stock exchanges opened Monday's session mostly lower after Germany revealed that its retail sales slumped by 8.8% on an annual level, marking the lowest rate in the sector since 1994.

Reports on the eurozone's manufacturing data, as well as those from the United Kingdom and Germany, will be published later today, joined by data on the region's unemployment rate. Meanwhile, HSBC Holdings Plc reported quarterly earnings, showing a 15% plummet in profit before tax year on year. In other news, the first grain ship left the Ukrainian port this morning for Lebanon.

The DAX decreased by 0.10% at the opening bell, with Covestro AG plunging by 3.28%. The CAC 40 opened the session with a 0.06% plummet, as LVMH Moet Hennessy Louis Vuitton dropped by 0.93%. London's FTSE was up by 0.38%, with HSBC Holdings Plc pulling the index up by 5.82%.

The euro gained 0.11% against the greenback, to change hands for $1.02362 at 8:59 am CET. At the same time, the pound was 0.24% against the dollar going for $1.21966.

Baha Breaking News (BBN) / AB