European Stock Markets Depreciate Wednesday

November 13, 2019

By Investors Hub

European stocks have fallen on Wednesday as anti-government protests in Hong Kong entered a third consecutive day of violent unrest.

Investors are also fretting about a potential U.S.-China trade deal after U.S. President Donald Trump threatened further increases in tariffs if a trade deal is not reached.

While the German DAX Index has fallen by 0.5 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are down by 0.3 percent and 0.2 percent, respectively.

Banks are among the prominent losers, while tariff-sensitive automakers such as BMW, Volkswagen and Peugeot have also moved to the downside.

Miners are also trading lower amid lingering uncertainty about whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute.

Commercial broadcaster ProSiebenSat.1 has tumbled after Italy’s Mediaset ruled out a full takeover of the company.

Real estate investment company Deutsche EuroShop has also fallen after lowering its earnings and sales guidance for fiscal 2020.

Leoni has also slumped as it reported a third quarter consolidated net loss of 88 million euros, compared to net income of 23 million euros in the previous year quarter.

On the other hand, Deutsche Wohnen has rallied after the property company decided to buy back up to 25 million shares of the company.

Smiths Group has also advanced. The engineering company kept its full-year outlook after reporting double-digit growth in first quarter revenue.

Dipo Olowookere

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.

Mr Olowookere can be reached via [email protected]

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