European Equities Fall as EU Meets on Migration Policy

By Investors Hub

European stocks have moved lower on Thursday as concerns over global trade persisted and investors turned their focus to the two-day European Union meeting on migration policy that’s kicking off in Brussels today.

While the German DAX Index has tumbled by 1.4 percent, the French CAC 40 Index is down by 0.8 percent and the U.K.?s FTSE 100 Index is down by 0.5 percent.

Germany’s Thyssenkrupp has moved lower on reports that it is close to concluding a $17.4 billion deal with Tata Steel to combine their European assets.

French utility Suez has also dropped after Berenberg cut its rating on the stock. John Wood Group has tumbled in London after leaving its full-year outlook unchanged.

At the same time, Swedish retailer Hennes & Mauritz AB has rallied after reporting its second quarter results.

In economic releases, German consumer confidence is set to remain stable in July, survey data from market research group GfK showed.

The forward-looking consumer sentiment index held steady at 10.7 points. This was slightly above the expected level of 10.6.

The pound hit a fresh 2018 low against the dollar after Bank of England Deputy Governor Jon Cunliffe warned about high levels of household debt, saying households that have high debt could be badly affected in a recession.