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On Thursday, European equities dived because fresh losses in emerging markets as well as fears that the US government will follow through its imitative to have an extra $200 billion of China’s products taxed definitely kept market participants on the edge.
The STOXX 600 reached its lowest value since early April in early trade – it slumped by nearly 0.3%. The DAX dived by approximately 0,3% in Germany. Furthermore, the FTSE 100 sank by about 0.2% in Great Britain.
A consultation period on the proposal to impose new levies on China is scheduled to conclude on Thursday, thus giving a green light for a long-awaited decision. However, no one knows for sure how quickly it’s going to occur.
The vast majority of sectors were seen in the red. However, basic resources equities turned out to be top losers, suppressed by a more than 3% sink in miner BHP Billiton that traded the former dividend.
In addition to this, utilities appeared to be another bright spot. As a matter of fact, Italy's state-controlled Enel soared by up to 1.6% due to the fact that Goldman Sachs had the stock upgraded to buy. At the same time, Centrica managed to add nearly 3.7% in Great Britain right after the local watch dog set an energy price cap, which was at the lower range of experts’ estimates.
The leading performer on the STOXX was represented by Safran. Its equities managed to ascend to another record maximum after the world's number three aerospace supplier increased full-year estimates following better-than-anticipated outcomes in the first half on firm demand for spares as well as services.
Besides this, Weir Group led losers, heading south by 5.9% after the pipe maker for the mining and energy industries told there were initial indications of pricing pressure.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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