European shares fall on Hong Kong unrest, Trump's disappointing trade comments

This post was originally published on this site

(Reuters) – European shares retreated from four-year highs on Wednesday, as a highly anticipated speech by U.S. President Donald Trump gave no new clues on the progress of a trade deal with China, and as anti-government protests in Hong Kong raged on, denting sentiment.

The pan-European STOXX 600 index () fell 0.2% after positive German investor sentiment data and a slew of upbeat earnings had helped it scale highs not seen since 2015 on Tuesday.

Banks () as well as trade sensitive auto () and mining sectors () were among the biggest decliners, along with media-related stocks ().

Satellite company SES (PA:) slumped after a JP Morgan downgrade to neutral, while German commercial broadcaster ProSiebenSat.1 (DE:) slid 2.5% after Italy’s Mediaset (MI:) said it could increase its stake in the German peer, but ruled out a full takeover.

Spanish stocks () led losses among regional peers as investors were doubtful of a new coalition between Socialists and far-left Unidas Podemos formed on Tuesday. The unexpectedly fast preliminary agreement was formed between two parties that recently refused to work together.

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