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European Equities Fall on Trump’s New Threats

By Investors Hub

European stocks have fallen sharply on Monday as trade war fears showed no sign of abating.

U.S. President Donald Trump on Sunday issued new threats against America’s trade partners, calling on all the countries to remove trade barriers and tariffs and raising concerns about potential escalation of the trade battle between the U.S. and the rest of the world.

In another development, the Wall Street Journal reported that Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

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There was also some disappointment on the data front as survey data from Ifo Institute revealed that German business sentiment weakened in June. The business confidence index fell to 101.8, in line with expectations. The initially estimated score for May was 102.

While the French CAC 40 Index has fallen by 0.9 percent, the German DAX Index and the U.K.?s FTSE 100 Index are both down by 1.5 percent.

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ING Group NV shares have dropped after the Dutch banking firm said it is the subject of criminal investigations by Dutch authorities regarding various requirements related to client on-boarding, money laundering and corrupt practices.

French catering and food service firm Elior Group has also moved to the downside. The company appointed Oscar Vela as the new Chief Executive Officer for its concession catering activities worldwide.

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Old Mutual shares have been suspended after the British financial services firm announced the pricing of Quilter’s IPO at 145 pence per ordinary share.

On the other hand, office provider IWG has jumped after the company said it is evaluating a possible cash offer for the company from private equity firm Terra Firma Investments.

Premier Foods has also rallied. The second-biggest shareholder in the company has called for the removal of Chief Executive Gavin Darby.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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