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On Thursday, European stocks headed south broadly due to the fact market participants had risky assets shunned, while willing to see whether China and America manage to dodge a trade conflict that would damage the world economy.
Eventually, the pan-European STOXX 600 index had slumped by nearly 0.7%, hitting a fresh four-week minimum.
On Wednesday, American leader told that China had the deal broken it had reached in trade negotiations with America, and vowed not to back down on slapping fresh levies on China’s goods.
As the world's leading economies proceed with their two-day trade negotiations in Washington on Thursday, traders were willing to know if a last-minute truce could prevent a steep increase of levies on $200 billion worth of China’s exports on Friday.
Over seven key sectors lost nearly 1%. Additionally, tariff-exposed auto shares went down by nearly 1.6%, while semiconductor shares lost ground too.
Banco BPM, Italy's number three lender went down by 6% having posted a halving of loan-loss provisions for the first quarter.
In addition to this, the country's leading financial institution by assets UniCredit went down even after it repeated its 2019 objectives and reported a net gain above analyst hopes.
Among the top divers were stocks of ArcelorMittal after the world's number one steelmaker cut demand estimate for its major markets and told it was facing the tough challenges of lower steel prices as well as reduced consumption in the European Union.
As for German wholesaler Metro, it headed south having posted another quarter of diving sales at its Russian business as well as its Real hypermarkets that the company is actually in the process of selling.
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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