European Markets Open Lower Amid Economic Data and Anticipation of US Tariffs

Investors across Europe started the week cautiously, with major indexes opening lower as the market anticipates the implementation of significant United States tariffs scheduled for April 2. Amid this tension, Germany reported a surprising 4.9% rise in retail sales for February, offering a glimmer of positive economic data.

Key Economic Indicators and Market Movements

Today's economic calendar is packed, with the United Kingdom's mortgage approvals and Italy's consumer price index figures set to be released. Additionally, the Bank of England is expected to publish its Quarterly Bulletin, adding another layer of data for investors to digest.

The DAX saw a decrease of 0.97%, with Siemens notably dropping by 3.40%. The FTSE 100 wasn't far behind, falling 0.29%, as Associated British Foods lost 3.44%. The Euro Stoxx 50 plunged 0.80%, with BASF leading the downturn by declining 2.51%. The CAC 40 also fell by 1%, largely due to a 2.12% drop in Teleperformance shares.

Currency Movements Amid Market Uncertainty

In currency markets, the euro edged 0.10% higher against the dollar, trading at 1.08406, while the pound sterling gained 0.17%, reaching 1.29608. These movements reflect the cautious optimism and uncertainty prevailing in the markets.