European equities head south as American tax bill gets muted reception

European equities head south as American tax bill gets muted reception

On Thursday, European equities followed Wall Street as well as Asian bourses lower in rather a muted response to the American Congress's approval of a long-awaited tax overhaul.

The STOXX 600 index lost 0.2%, with major European equities trading sideways.

Spain's IBEX headed south 0.4%, a bit worse than Germany's DAX as well as Paris CAC 40 that both tumbled 0.2%.

Financial experts are assured that financial markets will require time to digest the newly-approved US tax bill to find out which businesses will derive the greatest benefits.

Nokia reported the best performance of the STOXX 600, gaining 2.6% having announced a patent agreement with China's Huawei.

Meanwhile, Britain's Balfour Beatty posted a 2.4% soar after on Thursday it told that it had already agreed to have a 12.5% stake sold in M25 motorway operator Connect Plus for about 103 million pounds, thus pushing up this year’s revenue and making funds to pay down debt.

 

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