European broadly lower amid resurging Ukraine concerns

By FXstreet.com | August 06, 2014 AAA

FXStreet (Córdoba) - European stocks opened lower Wednesday, tracking Asian equities losses as tensions in Ukraine weighed on risky assets. Weaker-than-expected German data added pressure.

The Stoxx Europe 600 fell 0.62% to 330.12. As for country-specific indexes Germany’s DAX 30 dropped 0.74% while the France’s CAC 40 lost 0.36%. The UK FTSE 100 shed 045%. Meanwhile, Italy’s FTSE MIB fell 0.74% while Spanish Ibex 35 was down 0.61%.

Stocks on Wall Street and Asia, slumped on reports Russia has considerably increased the number of troops at its eastern border with Ukraine.

From the data front, German factory orders unexpectedly fell by 3.2% in June versus a 1.0% rise expected. During the New York session, the US will release June trade balance figures.

In the FX space, the USD is mixed, having given up gains versus European rivals after the EUR/USD hit a fresh 2014 low on the back of German data. The USD/JPY is little changed around 102.50 while the AUDis outperforming. On the other hand, the NZD is sharply lower after disappointing domestic jobs figures.

As for commodities, gold rose 0.58% to $1,292 an ounce, while crude oil gained 0.25% to $97.62 a barrel.

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