Dipo Olowookere
By Investors Hub
European shares have also turned mixed on Thursday after hitting an eight-month high the previous day on hopes that a U.S.-China trade deal could be imminent.
Investors watched fresh developments on the Brexit front after U.K. lawmakers voted by a majority of one to force Prime Minister Theresa May to ask for an extension to the Brexit process.
Elsewhere, White House economic adviser Larry Kudlow said Wednesday the U.S. and China hope to get closer to a trade deal this week. President Donald Trump is due to meet with Chinese Vice Premier Liu He in Washington today.
In economic news, factory orders data from German disappointed investors. The country’s factory orders plunged by 4.2 percent in February, marking their sharpest drop since January 2017.
While the German DAX Index is up by 0.2 percent, the French CAC 40 Index is down by 0.2 percent and the U.K.?s FTSE 100 Index is down by 0.5 percent.
UniCredit shares have moved notably lower. According to the Financial Times, the Italian lender is preparing a rival multi-billion euro bid to take control of Commerzbank. Shares of the German lender rallied on the news.
Steel maker Thyssenkrupp has moved to the downside on reports that workers at the company are demanding substantial guarantees for jobs and plants even if a planned joint venture with India’s Tata Steel falls apart.
Danish shipping giant Maersk has also fallen sharply on the day following the separate listing of its oil and gas drilling unit.
Mothercare has slumped after the British retailer reported an 8.8 percent decline in U.K. like-for-like sales for its 12-week period to March 30, 2019.
On the other hand, shares of Homeserve have rallied. The home repairs and improvements business said it has had another very good year in 2019, with adjusted profit before tax expected to be at the upper end of market expectations.
The adjusted profit before tax is also expected to be significantly ahead of the 141.7 million pounds delivered in fiscal 2018.
