European Markets React to Inflation Data and Earnings Reports

On Friday, European stock markets opened with a mixed sentiment, primarily influenced by the latest inflation reports from Germany, France, and Spain. Investors also digested the United Kingdom's Office for National Statistics report indicating a 0.1% drop in the country's gross domestic product (GDP) for January. In the corporate sector, Daimler Truck and BMW unveiled their financial outcomes just before the markets commenced.

Market Movements and Currency Fluctuations

The DAX index saw a decline of 0.16%, with Deutsche Bank shares falling by 1.53% at 9:00 am CET. The Euro Stoxx 50 also experienced a slight drop of 0.15%, as BMW shares dipped by 2.24%. Meanwhile, the FTSE 100 and the CAC 40 indices remained flat. On the currency front, the euro decreased by 0.12% against the dollar, trading at $1.08393 at 8:58 am CET. Similarly, the pound weakened by 0.21% against the dollar, trading at $1.29252.