European shares weighed down by trade, Brexit worries

This post was originally published on this site

https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEF980FM_L.jpg

(Reuters) – European stocks edged lower in quiet trading on Wednesday, as tensions heightened between the United States and China ahead of their crucial trade negotiations, while more uncertainty over Britain’s EU exit also weighed on sentiment.

The pan-European STOXX 600 index () was down 0.2% by 0707 GMT, with most country indexes flat to slightly lower.

Tariff-sensitive auto stocks () lost 0.5%, while the technology sector shed 0.4%.

Washington’s move to impose visa restrictions on Chinese officials late on Tuesday aggravated worries after the addition of more Chinese companies to a U.S. trade blacklist, making investors skeptical of a quick resolution to the protracted trade war.

Talks between the world’s top two economies are set to resume on Thursday.

Beating the negative market trend, Britain’s FTSE 100 () was slightly higher, as shares of export-heavy companies benefited from a softer pound.

Sterling’s weakness was linked to reports that talks between Britain and the European Union were close to breaking down without an exit deal.

Companies with upbeat earnings reports were leading gains on the benchmark index. British bookmaker GVC (L:) rose 3.2%, after raising its full-year core earnings forecast.

Dutch online food delivery company Takeaway.com gained 3.4%, after reporting an 87% increase in third-quarter orders.

Rivals Just Eat (L:) and Delivery Hero (DE:) rose 2.6% and 0.3%, respectively.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment