Dipo Olowookere
By Investors Hub
European stocks have edged lower on Friday amid Brexit woes as investors await the European Union’s decision on how long to delay the U.K.’s departure.
Investors also remain worries about trade wars after U.S. Vice President Mike Pence adopted a hard line in a speech Thursday laying out President Donald Trump’s China policies and reiterating U.S. support for protesters in Hong Kong.
While the French CAC 40 Index has bucked the downtrend and inched up by 0.1 percent, the German DAX Index is down by 0.2 percent and the U.K.?s FTSE 100 Index is down by 0.6 percent.
Brewer Anheuser-Busch InBev has moved sharply lower after reporting flat third quarter adjusted earnings and reducing its guidance.
Video game developer Ubisoft has also plunged after announcing delays to the release of its Watch Dogs Legion, Gods & Monsters, and Rainbow 6 Quarantine titles.
Synthomer shares have also come under pressure after the chemicals company warned that its full-year profit would be below expectations.
Internet services company United Internet is also posting a steep loss after cutting its EBITDA forecast for the current fiscal year.
On the other hand, KPN shares have surged after the Dutch telecom firm beat expectations with a nearly 3 percent rise in its third-quarter core profit.
Cement giant LafargeHolcim has also moved to the upside. The company expects the construction industry to remain buoyant next year despite rising global uncertainties.
Swedish home appliances giant Electrolux AB has also spiked after its third quarter profits narrowly topped forecasts.
Gucci owner Kering has jumped after its sales came in slightly above forecasts despite the turmoil in Hong Kong, while advertising firm WPP has soared after its third quarter trading beat analyst expectations.
In economic news, German consumer confidence is set to weaken to a three-year low in November, survey data from the market research group GfK showed.
The forward-looking consumer sentiment index fell to 9.6 in November from revised 9.8 in October. The expected score was 9.8.
Besides the global economic downturn, trade conflicts and Brexit chaos, job losses, especially in the automobile industry and financial markets, weighed on sentiment.
Separately, German business sentiment remained unchanged in October, monthly survey data from Ifo Institute showed. The business climate index held steady at 94.6 in October. The reading was expected to slip to 94.5.
