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European shares tepid before Brexit talks resume

Published 10/16/2019, 03:32 AM
Updated 10/16/2019, 03:36 AM
European shares tepid before Brexit talks resume

(Reuters) - European shares dipped on Wednesday, after dramatic swings over the past week, as uncertainty over the outcome of London's last-ditch Brexit talks with Brussels kept investors on the sidelines.

By 0710 GMT, the pan-European STOXX 600 index (STOXX) was down 0.1% after closing at its highest level since May 2018.

Brexit negotiations will resume in Brussels on Wednesday morning after "constructive" negotiations went into the night on Tuesday, a British spokesman said.

Britain's domestically-focused midcaps (FTMC) slipped 0.2% after climbing recently on hopes of a Brexit deal.

London-listed shares of Rio Tinto (L:RIO) fell after the miner said its iron ore shipments rose 5%, but cut its bauxite and alumina production forecast for the year.

The company's share drop pulled the mining sector (SXPP) down 1.3%.

Keeping losses in check for the benchmark index were shares of Roche (S:ROG), which rose 1.2% as the Swiss drugmaker boosted its 2019 sales outlook for a third time, and said it expects to finish its takeover of Spark Therapeutics (O:ONCE) this year.

Its shares boosted the healthcare sector (SXDP) by 0.5%.

Latest comments

How come European shares are not going down? Every hard data that came today out is red, Brexit talks are mostly destined to get something that no one really wanted. Dax is at max, FTSE, CAC, Euro Stoxx are also quite high. I cannot see any real economic data to support growth in prices.
just like us-china talks, it will not be best news but a good one
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