European stocks fall for second straight session on profit-taking

2019-11-14 12:27:45 GMT (Economies.com)
European stocks fall for second straight session on profit-taking

European stocks fell on morning sessions on Thursday, to deepen losses for the second straight session, on profit taking from 4-year highs, in addition to the renewed concerns about the US-China trade war after a report about a halt in the trade talks.

 

Stoxx Europe 600 fell by 0.1% as of 11:05 GMT, as it closed lower by 0.2% yesterday, on profit-taking from the highest level since July 2015,  hit in the previous day. 

 

The index opened today's session lower, to continue losses for the second straight session, on profit taking from 4-year highs with most of the major European exchanges and sectors seeing red today.

 

The automotive sector saw the largest losses in Europe today, with a drop by 1.5% as the sector is the most sensitive to  global trade news.

 

Less than a month after agreeing on interim trade deal, the US and China reached a dead end once again in talks.

 

CNBC television cited sources familiar with the matter today, that the United States is seeking stronger concessions from China on protecting the intellectual queen and stopping the forced technology transfer in exchange for removing the tariffs on Chinese goods.

 

The Wall Street Journal also reported that the trade talks between Washington and Beijing hit a snag on China's pledge to increase U.S. farm purchases, as Beijing does not want a deal that only benefits Washington.

 

S&P 500 futures fell by 0.3% today, after it closed higher by 0.1% yesterday at Wall Street, after it hit in the previous session a new record high of 3,102.61 points.

 

Back to Europe, the Euro Stoxx 50 index fell by 0.1%, the German DAX fell by 0.3%, France's CAC 40 fell by 0.1%, and in London, the FTSE 100 shed 0.5%

 
 
 
  Symbol Last Change Chg.%
1.1141
0.0079
0.7182%
1.3171
0.0034
0.2619%
Tadawul
8005.77
-127.95
1.57%
17.064
0.492
2.969%
58.945
-0.165
0.279%
63.95
0.26
0.41%
1483.965
24.120
1.652%
 
 
US
 
Europe
 
Asia