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European markets start mixed without Brexit deal

By Jeff Davies

European shares struggled to find direction in the first minutes of trading on Thursday, with small changes in major indexes.

Leaders of the European Union and member states decided at yesterday’s meeting in Brussels that not enough progress has been reached in Brexit negotiations, specifically the Irish border issue, for them to schedule an extra summit in November.

UK PM Theresa May, who apparently faces opposition to her platform even within her cabinet and party, claimed the two sides could still reach a deal.

The FTSE 100 was 0.11% in the green in the first transactions, with Rentokill the best stock, up 3.34%. Unilever lost 1.62% after posting revenue data. The German DAX slipped just 0.05%, where HeidelbergCement tumbled 7.02% to the bottom of the scale. SAP lost 3.32% as setbacks in the legacy software business offset the surge in cloud subscriptions in the third quarter. The CAC 40 grew 0.15% at the opening bell.

The euro was down 0.09% at 8:10 am GMT, buying $1.14904, and rose 0.14% to £0.87806. The pound declined 0.23% to $1.3085 at the same time. Gold was 0.09% below the flat line, at $1,221.16, and silver fell 0.74% to $14.51 per ounce.

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