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On Tuesday, European stocks declined in early trade, with all key sectors in the red, and banks led the drop on fresh political jitters and reacting to a downgrade by a major global broker.
The STOXX 600 index edged down 0.6% and the euro zone blue chip index sagged 0.7%, while the UK’s FTSE dived 0.5%.
Banks turned to be the biggest sectorial fallers, losing more than 1%, right after Deutsche Bank reduced its rating on the sector by one notch, setting "underweight".
Analysts of the German bank told that the sector turned to be among the most sensitive to swings in the euro area surge that they expect will diminish, and that valuations aren’t compelling any longer.
Italian banking stocks, which are on the retreat for the last two sessions on concerns as for early elections, found themselves among the top losers on Tuesday. For instance, Unicredit lost more than 2%.
In Great Britain, stocks of British Airways-owner IAG sank 4% on the first day of trading following the huge disruption to flights because of an IT outage.
On Wednesday, Asian equities stood still due to the fact that worries over the outlook for global economic surge as well as the everlasting China-US trade clash kept market participants away from risky assets…
On Tuesday, Asian equities headed south along with crude prices due to the fact that downbeat mood about world surge drove traders away from risky assets…
On Monday, London markets managed to gain due to the fact that traders weighed up the latest China surge data and also waited for UK Prime Minister Theresa May to outline her fresh Brexit proposal to the country’s parliament…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
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…
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