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European Equities Depreciate Amid Brexit Uncertainty

By Investors Hub

European stocks have moved mostly lower over the course of the session amid Brexit uncertainty and Italy’s budget showdown with the European Commission.

While the German DAX Index is down by 0.2 percent, the French CAC 40 Index is down by 0.3 percent and the U.K.?s FTSE 100 Index is down by 0.4 percent.

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Chocolate producer Barry Callebaut has slumped after the Jacobs family sold a 2.7 percent stake in the company. Danish cable producer NKT has also plunged after issuing a profit warning.

AstraZeneca has also dropped after its key lung cancer treatment failed to meet main goals in a late-stage trial.

Meanwhile, German automaker Volkswagen has risen after its supervisory board votes on changes to the company’s manufacturing operations.

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Deutsche Telekom has also moved higher after Swedish carrier Tele2 argued for a combination of its Dutch unit with the Netherlands unit of the German telecom provider.

Vivendi shares have also jumped in Paris. The French media conglomerate delivered better than expected third quarter results and clarified that it does not intend to sell its stake in Telecom Italia.

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Swiss industrial firm ABB has rallied on reports that it is in talks with three Asian suitors for its Power Grids business.

Imperial Brands has also moved notably higher. The British tobacco company has welcomed the U.S. FDA’s moves to prevent youth access to tobacco and vapour products.

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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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