ga('send', 'pageview');

European Stocks Fall as US, Canada Resume Trade Talks

By Investors Hub

European stocks have fallen on Wednesday as increased trade tensions between the U.S. and its key partners as well as the spreading sell-off in emerging market currencies dented investors’ appetite for risk.

Markets are also bracing for a potential major escalation in the U.S.-China tariff war as U.S. President Donald Trump readies tariffs on $200 billion more of Chinese imports.

The U.S. and Canada will resume trade talks today after four days of negotiations failed to produce a deal last week.

ALSO READ  SEC Orders Operators To Update of Registration Info

While the French CAC 40 Index has slumped by 1 percent, the German DAX Index is down by 0.7 percent and the U.K.?s FTSE 100 Index is down by 0.4 percent.

Bayer has dropped in Frankfurt after its second quarter profit missed estimates and the company gave more details of the acquisition of U.S. firm Monsanto.

Sanofi has also moved lower in Paris, a day after it agreed to pay more than $25 million to resolve corruption charges.

ALSO READ  Renault, UBS Group Pull Down European Stocks

BHP Billiton has also moved to the downside after the global miner picked up a 6.1 percent stake in SolGold PLC for $35.2 million.

On the other hand, advertising company JCDecaux has soared after a rating upgrade by Bank of America Merrill Lynch.

William Hill shares have also jumped after the bookmaker announced a partnership with U.S. casino group Eldorado Resorts.

In economic news, the euro area private sector expanded slightly more than initially estimated in August, final data from IHS Markit showed. The composite output index rose to 54.5 in August from July?s 54.3. The score was marginally above the flash estimate of 54.4.

ALSO READ  Nestle Lifts NSE Indices by 2.43% as Investors Rake N302b

Separately, Eurozone retail sales fell 0.2 percent month-on-month in July, in contrast to a 0.3 percent rise in June, Eurostat reported. This was the first fall since April, when sales were down 0.2 percent.

The U.K. service sector expanded at a faster pace in August on stronger new orders, survey data from IHS Markit showed.

Related Articles

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.

more recommended stories

%d bloggers like this: