European stocks lose ground on US-China tensions

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The headquarters of the European Central Bank in Frankfurt am Main, Germany, March 12, 2020.

daniel roland / Agence France-Presse / Getty Images

Thursday, European stocks took a step back, while the two largest economies in the world continue to clash and before the last decision of the European Central Bank.
Up 5% from the last month, the Stoxx Europe 600 SXXP,
-0,78%
slipped 0.9%

Losses were also observed for the German DAX DAX,
-0,65%,
French CAC 40 PX1,
-0,87%
et UK FTSE 100 UKX,
-0,74%.

China, where the coronavirus outbreak originated, reported a 3.2% increase in gross domestic product in the second quarter, but also reported a surprise drop in retail sales for June.

Meanwhile, US-Chinese tensions continue to soar. The United States has imposed a blanket travel ban on Chinese Communist Party officials, according to the New York Times. China recently imposed travel restrictions on US lawmakers, including Senators Ted Cruz and Marco Rubio.
Le Shanghai Composite SHCOMP,
-4,49%
fell 4.5%.
The European Central Bank should not change interest rates or quantitative easing at Thursday’s meeting, so attention will focus on the press conference by ECB President Christine Lagarde, which precedes a meeting of EU leaders to discuss the proposed 750 billion euros. recovery funds.
Moving stocks, Zalando ZAL,
+ 2.81%
soared as Berlin online retailer raised profit forecasts after a solid quarter.
GVC Holdings GVC,
-4,75%
fell after the British sports betting company announced a 22% drop in net gaming revenue in the second quarter and announced the retirement of its chief executive, Kenneth Alexander.
Heineken HEIA,
-2,40%
fell as the brewer reported a 13% drop in volumes in the first half, lowering adjusted profit by 76%.
Dow futures YM00,
-0,72%
dropped 234 points. Wednesday, the S&P 500 SPX,
+ 0,90%
increased by 0.9% while the Nasdaq Composite COMP,
+ 0,59%
added 0.6%.

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