By Investors Hub
European stocks have tumbled on Wednesday, extending losses from the previous session as global growth worries persist and investors wait for Prime Minister Boris Johnson’s radical contemporary Brexit proposal to be unveiled later in the day.
Intensifying protests in Hong Kong and tensions on the Korean Peninsula also remain on investors’ radar.
While the U.K.?s FTSE 100 Index has plunged by 2.2 percent, the French CAC 40 Index is down by 1.7 percent and the German DAX Index is down by 1.3 percent.
Bouygues Group has declined after Colas, a subsidiary of the industrial group, announced that Herve Le Bouc is resigning as Chairman of the Board of Director.
SAP shares have also moved to the downside. The software giant has partnered with Indian IT consulting company Infosys for a new strategic program, Innov8, to accelerate enterprise digital transformation journeys using SAP digital solutions.
Hochschild Mining has also slumped as it acquired the BioLantanidos ionic clay rare earth deposit in Chile. Standard Life Aberdeen has declined after announcing a change to its Board of Directors.
On the other hand, Grenke shares have moved sharply higher after the financing firm raised its full-year new business forecast.
Flutter Entertainment shares have also soared after the betting and gaming operator reached an agreement to acquire Canada’s The Stars Group.
In economic news, Germany’s leading economic institutes slashed the economic growth forecast for this year and next, mainly citing weakening global demand for capital goods exports.
The growth forecast for this year was lowered to 0.5 percent from 0.8 percent and the outlook for next year was slashed to 1.1 percent from 1.8 percent.
The U.K. construction sector contracted further in September, survey data from IHS Markit showed. The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers’ Index fell to 43.3 in September from 45.0 in August.
