European equities dive to 2-week minimum

European equities dive to 2-week minimum

On Wednesday, European equities reached their lowest value for two weeks because data disclosing that the German and Japanese economies shrank in the third quarter drove fears about global surge in the face of a dive in crude prices.

The STOXX 600 decreased by 0.5% because commodities sectors weighed, while Italian shares sold off. In early trades, the STOXX as well as leading euro zone stock indexes STOX50E reached their lowest value since Oct 31, regaining some ground later.

Moreover, Italy's intention to stick to its surge as well as and deficit goals in its re-submitted draft budget prepared a showdown with the EU over breaking structural deficit limits.

It underpinned government bond gains and also suppressed Italy's FTSE MIB, which dived by 1.8%, demonstrating its worst dive for a month because bank equities headed south by 1.5%.

Besides this, the gas and oil sector SXEP went down by 2.3%, making it to lose its position as top-gaining industry year-to-date to healthcare.

As for energy shares, this quarter they have been one of the leading contributors to the region's earnings surge, making the dive a big concern for traders.

Crude was struggling to gain a footing following a 7% sink the previous day on soaring supply.

The FTSE 100 went down because Prime Minister Theresa May sought to persuade her cabinet to accept a draft EU divorce deal, which opponents tell threatens the independence as well as unity of Great Britain.

In addition to this, mining equities SXPP headed south by 2.7% because copper prices sank after dismal China retail sales data rekindled worries of a deceleration in the world's number one metals consumer.

Besides this, Dutch payments company Adyen's equities declined by 9.5%.

Iliad equities appeared to be among top performers, adding 7.1%.

 

Similar

Apple event surprised traders
Apple event surprised traders

Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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