Jan 12, 2017 01:42 PM IST IST | Source: CNBC

European markets open lower after Trump remarks

Investors will be looking at new corporate reports as they digest the latest remarks by Trump. His comments on Wednesday afternoon on the pharmaceutical industry sent stocks sharply lower and the lack of detail on fiscal stimulus moved the dollar lower.

Bourses in Europe opened lower on Thursday after President-elect Trump accused pharmaceuticals of "getting away with murder" and recommitted to a "border tax" in the U.S.

The pan-European Stoxx 600 was 0.34 percent lower with most sectors moving south.

Marks & Spencer and Tesco present strong figures

Investors will be looking at new corporate reports as they digest the latest remarks by Trump. His comments on Wednesday afternoon on the pharmaceutical industry sent stocks sharply lower and the lack of detail on fiscal stimulus moved the dollar lower.

 
Marks & Spencer kept its fiscal-year guidance unchanged on Thursday and announced a better-than-expected performance in both clothing and home-product sales for its third quarter. Food sales also went up by 5.6 percent during that period.

Tesco, the biggest U.K. supermarket, said that underlying sales rose 0.7 percent in the Christmas period.

ASOS, John Lewis and Debenhams will also be publishing their latest trading figures on Thursday.

In terms of data, the European Central Bank will release its latest monetary policy meeting accounts and the euro zone will receive its latest industrial production figures. In France, the socialist party is hosting the first debate for the primaries ahead of presidential elections later this year.

 
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