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European Stocks Decline as Barclays Move to Downside Workforce

By Investors Hub

European stocks are mostly lower on Friday as manufacturing data from China disappointed and investors awaited the Senate’s vote on tax reform legislation.

The French CAC 40 Index and the German DAX Index are both down by 0.6 percent, although the U.K.’s FTSE 100 Index is just above the unchanged line.

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British bank Barclays has shown a notable move to the downside after cutting stake in its Africa division. French dairy giant Danone has also moved lower after it was awarded damages of 105 million euros to be paid immediately by Fonterra for costs suffered as a result of the Fonterra food safety failures of 2013.

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On the positive side, British pharmaceutical firm Indivior has soared after its opioid addiction drug was approved by the U.S. health regulator.

French telecom company Altice has also rallied after it agreed to sell its Swiss telecommunications solutions business and data center operations.

Royal Dutch Shell has advanced after striking a deal with PetroChina that will pave the way for the development of large gas project in Australia.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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