European Markets Open Lower Following ECB's Rate Decision

Following the European Central Bank's decision to cut interest rates by 25 basis points, major European stock markets opened lower on Friday. Investors are also digesting the latest economic data, including UK house prices, German factory orders, and the French trade deficit, which stood at €6.5 billion in January.

Stock Market Performance Across Europe

At the opening bell, the DAX declined by 1.05%, with Vonovia leading the fall by 4.7%. The FTSE 100 slipped by 0.21%, largely due to Rentokil's 3.32% loss. Similarly, the CAC 40 dropped by 0.42%, with Teleperformance tumbling by 2.09%, and the Euro Stoxx 50 decreased by 0.46%, as Deutsche Telekom slumped by 2.62%.

Currency Movements

In currency markets, the euro gained 0.41% against the dollar, trading at $1.08302, while the pound was up by 0.21%, selling for $1.29056.