European Stocks Fall Thursday

By Investors Hub

European stocks have declined on Thursday as a slew of negative catalysts have sapped investors’ appetite for risk.

A summit between President Donald Trump and the North Korean leader Kim Jong-un ended with no agreement after North Korea reportedly wanted all sanctions lifted, something the U.S. was not prepared to do.

The British pound has hit fresh multi-month highs against both the dollar and euro on reports that Brexit could be delayed by up to two years.

Spain’s Amadeus IT Group SA has fallen sharply after reporting a 1 percent increase in its adjusted profit for fiscal 2018.

Engineering company ABB has also moved notably lower after announcing a revamp of its divisional structure to reduce costs.

Staffing firm Adecco Group has also slumped after it swung to a loss in the fourth quarter due to a goodwill impairment.

On the other hand, Anheuser Busch Inbev has jumped in Amsterdam after posting strong fourth quarter results and issuing a robust profit outlook for 2019.

French grocery retailer Carrefour Group has also advanced. After reporting a net loss for fiscal 2018, the company issued upward revisions for several targets of the Carrefour 2022 plan.

Zalando shares have soared in Frankfurt after the online fashion retailer met its 2018 targets and said it expects solid growth this year.

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 dipo.olowookere@businesspost.ng

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