EU stocks head south ahead of the G7 summit

EU stocks head south ahead of the G7 summit

On Friday, stock markets of Western European countries were suppressed due to the bearish mood amid soaring disagreement between America and other G7 participants before the summit in Canada.

The summit in Quebec, Canada is expected to burst out on Friday. The key issue on its agenda will be foreign trade. Previously, the American government rolled out tariffs on the supply of aluminum and steel from six partner countries for the G7 that they pledged to take retaliatory measures.

By the way, the day before, French leader Emmanuelle Macron told that six countries without America together turn out to be a larger market than the US. He also stressed that without serious concessions from America he won’t sign the traditional joint statement of the G7. Responding to Macron’s statement, Donald Trump criticized the European Union and Canada for generating trade barriers against America and it’s quite unfair to US farmers, companies and employees.

Previously, the market quite calmly perceived the soaring tension in world trade. As a result, Trump's hawkish stance was considered to be another tactical trick in the talks. However, it becomes obvious that many G7 participants are reluctant to play this game and they’re ready to come up with symmetrical answers.

The index of the key businesses of the Stoxx Europe 600 region dipped by 0.66% reaching 383.39.

Meanwhile, the British FTSE 100 went down 0.79%, while the French CAC 40 lost 0.43%. In addition to this, the German DAX dipped 1.31%, the Italian FTSE MIB lost 1.79% and the Spanish IBEX 35 edged down 1.05%.

The equities of Deutsche Bank headed south by 0.6%, while Commerzbank papers lost 2.3%.

Capitalization of Lloyds dived by 1.2% after the financial institution decided to have the remaining 3.3% of Aberdeen's Standard Life insurer sold for about 344 million pounds.

 

Similar

American equities slump

On Thursday, American equities headed south due to the fact that gloomy earnings reports from industrials backed fears about soaring expenses as well as the impact of levies, contributing to worries over higher borrowing costs after hawkish remarks from…

American equities inch down

On Wednesday, American equities lost in their value in rather a choppy trading session, unable to proceed with their surge from the previous trading marathon because IBM snapped a run of firm blue-chips profits and gloomy housing data suppressed Home…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera