3/14, 9:01 AM (Source: TeleTrader)
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Europe mostly higher at open amid bank turmoil, ECB decision

European markets opened mostly higher on Tuesday as aftershocks from the collapse of Silicon Valley Bank continued to rattle financial markets. Investors continue to monitor the case as it could have implications for the ECB's next monetary policy decision.

Elsewhere, before the opening, the Volkswagen Group published its latest earnings report with earnings at €279 billion for 2022, jumping 11.6% from the previous year. Besides, according to the company, car sales will increase considerably in 2023.

At 9:02 am CET, the French benchmark CAC 40 added 0.18%, while Teleperformance improved by 1.08%. The FTSE 100 was flat, as HSBC dropped by 1.46%. One minute later, the pan-European Euro Stoxx 50 improved by 0.29%, and SAP was leading the gains by 1.03%. The German DAX rose 0.26% at 9:04 am CET, with Heidelbergcement being the best performer at the open, up 1.14%.

The euro and the British pound were down by 0.40% and 0.23% against the dollar at 8:58 am CET, selling for $1.06888 and $1.21555, respectively.

Baha Breaking News (BBN) / JG