First Place Finance - European Market Review - 09.08.2019

Europe leading market lost around 2.4% mainly after the political crisis in Italy.Most indexes lost with shares in Germany off the most.

The German DAX slipped 0.97%, while France's CAC-40 declined 0.63%.

The London's FTSE-100 also lost around 0.03%. Matteo Salvini, the leader of one of the country’s ruling parties, the League,  dropped his support for the governing coalition.

London’s FTSE and the the sterling are under pressure, after Londong stated that the economy fell in the second quarter.

In fact, this is the first loss of the last seven years.In fact, the  second-quarter gross domestic product (GDP) slipped 0.2%.

The British pound also declined below $1.21 versus the USD but soon recovered ground. Against the euro, the pound also fell.