
Please try another search
(Reuters) - European shares opened lower on Monday, as optimism on the progress made in the Sino-U.S. trade talks was offset by growth fears following weak data from Beijing and fresh Brexit uncertainty.
The pan-European STOXX 600 (STOXX) was down 0.7% at 7:12 GMT after recording its best session since January on hopes of a trade deal and a Brexit agreement.
Late on Friday, United States and China outlined the first phase of a trade deal and suspended this week's scheduled U.S. tariff hikes. But existing tariffs remain in place and officials on both sides said much more work is needed before an accord could be agreed.
In the latest sign of weakness in the Chinese economy, data showed a further contraction in exports and imports in September.
Germany's DAX (GDAXI), dominated by firms with exposure to China, slipped 0.5%. All country indexes were in the red.
Britain's domestically-focused FTSE mid-caps (FTMC), typically sensitive to Brexit news, gave up 1.3% after Friday's more than 4% surge.
Swiss pharmaceutical companies Roche Holding AG (S:ROG) and Novartis AG (S:NOVN) dropped more than 1% each, and were the biggest drags on the main index, after a report that the United States was considering tariffs on Swiss pharmaceutical products.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.