10/31/2022, 9:03 AM (Source: TeleTrader)
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European markets lower with inflation in focus

Major stock market indexes in Europe traded lower on Monday after briefly opening in the green territory and ahead of the release of the data on inflation and gross domestic product (GDP).

The most recent data on inflation and GDP in the region will shed more light on the economy after last week's decision by the European Central Bank to raise key rates by 75 basis points. In its latest statement last week, the bank added that the current inflation reading remains "far too high" and will stay elevated in the coming months.

The DAX gained 0.25% at the open but decreased by 0.07% eight minutes later, with Covestro down by 1.71%. At 9:09 am CET, the CAC 40 fell 0.36%, while Safran declined by 2.32%. A minute later, the FTSE 100 went down by 0.06%, as Shell dropped by 1.92%.

The euro was down by 0.33% against the dollar at 8:57 am CET, selling for $0.99329. In comparison, the pound fell by 0.29% to go for $1.15791 simultaneously.

Baha Breaking News (BBN) / JG