European stocks fall ahead of UK parliament vote on Johnson's Brexit deal

2019-10-18 12:13:17 GMT (Economies.com)
European stocks fall ahead of UK parliament vote on Johnson's Brexit deal

European stocks fell in the opening sessions on Friday, to deepen losses for the third straight day, on profit taking amid broad doubts about the odds of the British parliament to pass Johnson's draft Brexit deal with the EU in coming vote on Saturday.

 

Stoxx Europe 600 fell by 0.2% as of 08:24 GMT, after it extended its losses for the second straight day and closed lower by 0.1% yesterday, on profit taking from the highest level since July.

 

The index opened today's session lower, to deepen its losses for the third straight day, on profit taking with most of the major European exchanges and sectors dropping.

 

The auto industry sector saw the sharpest losses in Europe today, with a drop of more than 1.4%, as the French car giant Renault shares slumped after it issued a profit warning.

 

The British Prime Minister Boris Johnson agreed with the European Commission yesterday on a draft deal for the UK departure from the EU, and the draft deal was also approved by all the EU leaders during their economic summit in Brussels. 

 

But PM Johnson now still needs to persuade the British Parliament to pass the deal in its vote on Saturday, to ensure an exit from in orderly fashion from the European Union on October 31.

 

S&P 500 futures fell by 0.2%, while it closed higher by 0.3% yesterday at Wall Street, buyod by robust earnings reports issued by several major US companies.

 

To European stock markets, the Euro Stoxx 50 index fell by 0.2%, as in France the CAC 40 fell by 0.4%, and Germany's DAX shed 0.1%, while in London the FTSE 100 dropped more than 0.5%. 

 
 
 
  Symbol Last Change Chg.%
1.1053
0.0028
0.2585%
1.2901
0.0100
0.7847%
Tadawul
7924.19
-8.33
0.10%
16.950
0.147
0.878%
57.847
0.488
0.852%
63.36
1.07
1.72%
1466.920
8.640
0.593%
 
 
US
 
Europe
 
Asia