European stocks slump after North Korean missile test

European stocks slump after North Korean missile test

On Tuesday, European equities decreased because market participants digested North Korea’s claim that it had turned to be a nuclear state. Traders would trade neglecting Wall Street because the New York Stock Exchange is still closed due to the Independence Day holiday.

The benchmark Euro Stoxx 50 went down 0.39%, Germany’s DAX 30 dipped 0.36%, and  France’s CAC 40 lacked 0.45%

On Tuesday, North Korea declared it successfully tested a new intercontinental ballistic missile. It demonstrated a trajectory experts told could potentially allow a weapon to reach Alaska. The recent missile test has given grounds to North Korea to consider itself a proud nuclear state, capable of targeting anything in the world.   

Stocks in STADA leapt 2.5% on reports that the German generic drug producer might stumble on an improved takeover offer from Bain Capital and Cinven, following the previous offer of €5.3 billion, which fell through in June.

FTSE 100 dived 0.17% in London.

 

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