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European markets open lower Wednesday

Pierre Veyret - Technical Analyst, ActivTrades
June 07, 2023

EUROPEAN SHARES 


European shares opened mostly lower on Wednesday, following a mixed trading session in Asia as macro concerns from China weigh on market sentiment.

Risk appetite is decreasing almost everywhere after investors witnessed Chinese export data falling short below expectations, reviving concerns of slower global demand. Even though most sectors opened in the red, the news had the biggest impact on energy shares, which along with miners, semiconductor and chemical companies are the worst performers so far.

The Stoxx-50 index has erased yesterday’s profits with a pull-back towards its first support area over 4,277.0pts while both EMA remain in a bearish configuration.

Today’s macro agenda contains less major news than usual but market sentiment could significantly change with this afternoon’s US crude oil inventories, as depending on the actual data, this report usually has a major impact on energy stocks.


Pierre Veyret– Technical analyst, ActivTrades


Source: ActivTrader


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