Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

European shares dip as trade war fears weigh

Published 05/22/2019, 03:25 AM
Updated 05/22/2019, 03:25 AM
© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - European shares edged lower on Wednesday as concerns over a protracted U.S.-China trade war again worried investors, while a drop in the pound propped up London's blue-chip index.

The pan-European STOXX 600 index was down 0.1% by 0708 GMT with Germany's DAX, traditionally sensitive to trade issues, down 0.2%.

A report that the United States is considering limits on Chinese video surveillance firm Hikvision added to the list of tensions between the two sides ahead of a summit later this month.

The STOXX 600 is down about 3% so far this month, on course for its first monthly decline this year as the tensions threaten to hurt global growth.

Auto shares slipped 0.4% and basic-resources stocks, among those first in the firing line, retreated 0.3%.

Britain's exporter-heavy FTSE 100, however, outperformed its peers and rose 0.4%, bolstered by Brexit-driven falls in the pound, which boost the foreign revenues of its internationally-focussed firms.

Marks & Spencer shares dropped more than 5% after the retailer reported its third straight decline in full-year profit, showing the pain of its latest attempt at a multi-year turnaround.

© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

Shares of asset manager Intermediate Capital Group jumped to the top of STOXX 600 after posting full-year results.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.