European Markets Open Lower as UK GDP Stagnates

On Monday, major European stock exchanges opened in the red, largely influenced by recent economic data from the United Kingdom. According to the UK Office for National Statistics, the gross domestic product (GDP) remained stagnant in the third quarter of 2024, reflecting economic challenges faced by the country.

By 9:01 am CET, the CAC 40 had slipped 0.21%, the Euro Stoxx 50 edged down 0.33%, the FTSE 100 was down 0.31%, and the DAX declined 0.19%. Meanwhile, the euro traded 0.16% lower against the dollar at $1.04129, while the pound edged down 0.13% to $1.25580.

As the day progresses, more updates on the economic situation and market reactions are expected.