Key European indexes go down

Key European indexes go down

On Monday, European stock indices weakened a bit, market participants focused on the Italian political situation, US-China trade relations as well as diving crude prices.

The European index Stoxx 600 headed south by about 0.17%, while sectors and large exchanges moved in opposite directions.

Shares of the crude and gas sector found themselves in red because crude prices drifted away from their multi-year maximums. Brent slumped by 0.3%, hitting $76.91, while WTI reported a 0.2% slump, being worth $70.53. The prices were previously backed by news that the United States is going to withdraw from the nuclear agreement with Iran. However, on Monday market participants didn’t hurry with purchases before the release of the monthly report on the crude market of OPEC.

At the same time, health sector equities inched up 0.6%, reviving from a recession the previous week after President Donald Trump uncovered plans to lower the prices of prescription drugs.

Iwg managed to soar to the top of the European index, adding 20%, after three different companies announced their interest in buying the company. Portuguese energy company EDP also added by nearly 12% after the Chinese group Three Gorges filed an application for takeover. On the other hand, Lundbergs collapsed by about 50%, Victrex dived by 4.7%. The latter posted higher subsidized income, but warned of difficulties with fixed income in 2019.

In Europe, the focus was on the situation in Italy. In this European country two opposition parties the "Five Star Movement" and the extreme right-wing "League of the North" came to an agreement on the formation of the government. They called on Italian President Sergio Matarella to present the outcomes of their talks. If the president approves their deal, then the repeat of the March elections will no longer be required.

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