Today's data summary

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% change
As of 21:07 23 Sep 2018

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European markets head south

Olaf Scholz
Olaf Scholz

European markets have opened lower.

The benchmark FTSE 100 index is down 0.7% at 7,509, while the Dax in Frankfurt is down 0.6%, and the Cac 40 in Paris is down 0.2%.

Investors will be waiting for further news on the progress made in Brexit negotiations.

German finance minister Olaf Scholz just told a banking conference that it is "difficult to say" whether the EU will reach an agreement with Britain.

European markets make slight gains

London's FTSE 100 is the only one of the major European stock market indexes that isn't currently up on the day. The Cac 40 in Paris and Frankfurt's Dax are both trading a slender 0.08% higher, while Amsterdam's AEX and Madrid's Ibex are up 0.03% and 0.06% respectively.

Deutsche stock rises despite stress test fail

Deutsche Bank offices
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Despite failing the Federal Reserve's stress tests, Deutsche Bank is trading up around 1.6% this morning.

The tests by the US central bank are designed to assess how well banks can hold up under another financial crisis - and found "widespread and critical deficiencies" at the German lender.

Deutsche's price rise is in line with increases across the board this morning amongst DAX companies.

FTSE treads water

female trader
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An hour into trading and the FTSE has made little progress. It's currently up 0.2% at 7,525.13.

It's a similar story in Europe with France's Cac 40 Index up 0.3% and Germany's Dax up 0.46%.

Spreadex analyst Connor Campbell says markets are taking a breather.

"A lack of news regarding the latest trade restrictions set to be announced by Trump – beyond Treasury Secretary Steven Mnuchin stating that the US isn’t punishing China specifically but ‘all countries’ trying to ‘steal’ American technology – allowed the markets a moment to take a breath after the bell."

European stock markets wobble

Trader, Frankfurt stock exchange

European stock markets are down sharply this morning.

Frankfurt's Dax index is down 1.4%, in Paris the Cac-40 is 1.2% lower and Madrid is down 1%.

London's FTSE 100 is holding up relatively well, with a loss of just 0.4%.

Analysts are blaming concerns over the trade tension between the US and China.

Investors are also wary over the political situation in Germany where Chancellor Angela Merkel has clashed with leaders of her coalition ally, the CSU party, over her refugee policy.

"With the US-China trade war already creating an uncomfortable trading atmosphere, the brewing political tensions between long-time allies the CDU and CSU in Germany has caused some bloody losses in the Eurozone," said Connor Campbell, financial analyst at SpreadEx.

Shares remain under pressure

Trader in London
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Investors are in cautious mood today ahead of what is expected to be an acrimonious meeting of the G7 this weekend, and most stock markets are trading lower.

In London, the FTSE 100 is down 0.7% at 7,653.25.

Germany's Dax index is down 0.9% at 12,701.12, with sentiment there also being hit by some weak economic data released earlier.

Milan market surges

The Milan stock market has open 2.2% higher following the news that the two populist parties in Italy will be able to form a government after all.

Other European markets have also opened higher, with the FTSE 100 in London and Cac 40 in Paris both up 0.6%, while Madrid is 0.8% higher and Frankfurt has added 0.9%.