3/15, 9:03 AM (Source: TeleTrader)
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Europe opens in red with UK set to unveil spring budget

Major European stocks kicked off Wednesday's session in negative territory as investors awaited Downing Street's spring budget that will unveil more details about the British government's plans to curb inflation and reduce public debt. Meanwhile, the latest data showed inflation in France persisted during February, arriving slightly above expectations at 6.3%.

The DAX dropped by 0.34% at the opening bell, with Zalando SE falling 1.58%. The CAC 40 lost 0.52%, as ArcelorMittal SA went down by 1.11%. The FTSE 100 decreased by 0.39%, pulled by Prudential PLC's 3.55% decline. The Euro Stoxx 50 dipped by 0.50%, with Nokia losing 0.81%.

The euro stood flat against the dollar at 8:54 am CET to sell for 1.07339, while the pound slipped 0.08% to $1.21468.

Baha Breaking News (BBN) / ND