European Shares Slip On China Demand Concerns

RTTNews | 654 days ago
European Shares Slip On China Demand Concerns

(RTTNews) - European stocks fell on Monday, as concerns about China's property market returned to the fore and a survey showed German business sentiment slightly worsened in September.

The Ifo institute said its business climate index stood at 85.7 versus a score of 85.2 forecast by analysts.

The pan European STOXX 600 dropped 0.7 percent to 449.92 after declining 0.3 percent on Friday.

The German DAX gave up 0.9 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 was down 0.6 percent.

The euro edged lower against the dollar after European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau said that interest rates should remain at these levels for a sufficiently long period of time.

ECB President Christine Lagarde is scheduled to testify before the European Commission's Committee on Economic and Monetary Affairs later in the day, with investors looking for more clues to indicate that the eurozone's central bank is done hiking.

Miners Anglo American, Antofagasta and Glencore fell 2-3 percent on concerns about financial problems in China's property sector after Evergrande's debt restructuring hit a roadblock.

China Evergrande Group, the world's most indebted property developer, said it was unable to issue new debt due to an ongoing investigation into its main domestic subsidiary, Hengda Real Estate Group Co.

China-exposed luxury stocks such as Hermes International, Kering and LVMH dropped 2-3 percent in Paris.

Gambling firm Entain plunged 9.4 percent in London after it warned on its online net gaming revenues for the third quarter and the full year.

CRH rallied 3 percent after the building materials giant announced the repurchase of 17.7 million ordinary shares.

Insurer Aviva fell about 1 percent after it agreed to acquire AIG's U.K. protection business.

Novartis AG was marginally higher. The Swiss pharmaceutical firm said that its radioligand therapy, Lutathera, had met its primary endpoint in a phase 3 trial.

Swedish property group SBB soared 30 percent after it agreed to cede control in a portfolio of school buildings to Canada's Brookfield Asset Management Ltd.

read more
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

Swiss stocks turned in a fine performance on Thursday, in line with most of the markets across Europe, amid optimism about a U.S.-EU trade deal materialising sometime soon.
RTTNews | 16 minutes ago
European Stocks Close Broadly Higher On Trade Deal Hopes

European Stocks Close Broadly Higher On Trade Deal Hopes

European stocks closed on a positive note on Thursday with the undertone remaining firm amid expectations the European Union and the U.S. will strike a trade deal soon. Investors also looked ahead to the earnings season that is set to start next week.
RTTNews | 34 minutes ago
Canadian Market Modestly Higher At Noon

Canadian Market Modestly Higher At Noon

After a flat start and a subsequent drop into negative territory, the Canadian market climbed higher Thursday morning and remained firmly well placed in positive territory at noon. The mood remains somewhat cautious amid concerns about tariffs following U.S. President Donald Trump confirming a 50% levy on copper imports, and hinting at additional tariffs on semiconductors and pharmaceuticals.
RTTNews | 1h 55min ago
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 4h 12min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 5h 25min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 5h 28min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 37min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 7h 12min ago