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On Friday, dismal earning updates as well as a series of broker downgrades put pressure on European equities, thus leaving regional indexes on track for their second weekly decline in a row.
Market participants have been locking in revenues, shrugging off everlasting strength in economic data because euro zone earnings surge slowed versus the previous quarters and caution rallied over whether a stock market soar could continue or not.
On Friday, Elior went down 12% after Europe's number three catering group reduced its revenue guidance, pointing to the impact of Hurricane Irma.
Equities in Fresenius SE, Just Eat, Greene King, United Utilities as well as H&M all went down more than 2% following ratings downgrades from brokers.
The STOXX 600 headed south 0.2%.
As for top gainers, we should mention Vivendi, which gained 1.5%. The benchmark reversed earlier weakness because traders assessed an earnings report from the acquisitive French media conglomerate.
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 Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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