European Markets React to ECB's Latest Move

As the European Central Bank (ECB) announced a quarter percentage point cut in interest rates, major European stock indexes have shown a downward trend in the premarket trading session this Friday. Investors are closely watching the upcoming economic indicators from Germany, France, and the Eurozone, including factory orders, trade balance, unemployment numbers, and gross domestic product figures.

Market Movements: The DAX index experienced a significant drop, losing 1.17% or 276 points by 8:01 am CET. Similarly, the Euro Stoxx 50, CAC 40, and FTSE 100 also saw declines of 0.70%, 0.35%, and 0.50% respectively.

Currency Fluctuations: The euro appreciated by 0.36% against the dollar, trading at 1.08250, while the pound remained stable against the dollar at 1.28983.