European bourses opened mixed today as political risks once again weigh on markets. The latest poll from YouGov shows that Conservatives will lose majority in the UK Parliament.
DAX is trading flat today as political concerns grow. German bourse is now down by 0.1 percent, FTSE 100 is up by 0.31 percent as sterling is falling.
DAX is trading marginally lower on political concerns with sectors pointing in different directions. Source: Bloomberg
Banks are again in focus on in main exchanges, German lender Commerzbank AG (CBK.DE on xStatation5) is outperforming after UBS raised rating to buy from sell. Stocks are now up by 1.42 percent. On the other end, Deutsche Bank AG (DBK.DE on xStation5) is trading lower after it agreed to pay 41 million dollar settlement on allegations that its US operations failed to maintain protections against money laundering. The latest fine is just a tip of an iceberg in a string of fines that have cost the German lender billions of dollars.
Sterling dropped today on the latest YouGov poll predicting that Conservatives will lose its majority in the Parliament. Shortly after the poll has hit the wires sterling dipped down below 1.28 level and now is the weakest currency in the G10 basket.
Today we saw a softer inflation data from the Eurozone which was expected as yesterday’s German data disappointed. On what is more to come, we invite you to our previous post here.