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19 May 2014
European markets open the week lower
FXStreet (Córdoba) - Markets opened mostly lower in Europe Monday weighed by the cautious mood and M&A activity.
UK pharmaceutical company AstraZeneca rejected an increased offer from US giant Pfizer. AstraZeneca shares dropped 14% on the news, weighing on the UK FTSE 100, which fell 0.50%.
Elsewhere, the Stoxx Europe 600 index dropped 0.31%, after closing higher for 5 consecutive weeks on Friday. The German DAX was down 0.26%, the France’s CAC 40 fell 0.14% while the Spanish Ibex shed 0.09%.
US futures are also pointing for a lower opening, with the DJIA and the SP500 having touched fresh all time highs last week. Crude oil futures rose above $102.14 a barrel, hitting a 4-week high, still supported by the Ukraine situation. Gold was also in the rise, having climbed back above $1300 an ounce.
In the FX market, the dollar was a tad lower across the board with movements subdued as investors "wait-and-see" ahead of economic events later this week.
UK pharmaceutical company AstraZeneca rejected an increased offer from US giant Pfizer. AstraZeneca shares dropped 14% on the news, weighing on the UK FTSE 100, which fell 0.50%.
Elsewhere, the Stoxx Europe 600 index dropped 0.31%, after closing higher for 5 consecutive weeks on Friday. The German DAX was down 0.26%, the France’s CAC 40 fell 0.14% while the Spanish Ibex shed 0.09%.
US futures are also pointing for a lower opening, with the DJIA and the SP500 having touched fresh all time highs last week. Crude oil futures rose above $102.14 a barrel, hitting a 4-week high, still supported by the Ukraine situation. Gold was also in the rise, having climbed back above $1300 an ounce.
In the FX market, the dollar was a tad lower across the board with movements subdued as investors "wait-and-see" ahead of economic events later this week.