European stocks fall on concerns over Brexit trade talks

2020-09-29 12:39:09 GMT (Economies.com)
European stocks fall on concerns over Brexit trade talks

European stocks fell on Tuesday, to resume losses after yesterday's rebound from a 3-month low, which comes due to investors' risk aversion amid fears of difficult trade talks between the EU and the UK, and ahead of the first US presidential debate in this election.

 

The Stoxx Europe 600 index fell 0.3% as of 11:15 GMT, after it closed higher by 2.2% yesterday, and rebounded from a 3-month low of 351.24 points.

 

Yesterday's gains were based on a strong rally of bank's shares led by HSBC, which were the largest in the last 3 weeks.

 

The pan European index opened higher lower today, to take a breather after yesterday's gains, with most of the major European markets and sectors seeing red today.

 

The banking sector saw the largest losses in Europe today, dropping over 1.5%, on profit-taking.

 

The British government and the EU pointed out that the trade agreement between the two sides is still not feasible, after they resumed talks on Monday, which comes amid threats of a possible exit even without an agreement by the British Prime Minister Boris Johnson.

 

Markets are anticipating the upcoming US presidential debate between the US President and Republican candidate Donald Trump versus his Democratic rival Joe Biden, due later today.

 

S&P 500 futures fell 0.5% today, after the index closed higher by 1.6% yesterday at Wall Street, posting the third straight daily gain.

 

Back to Europe, the Euro Stoxx 50 index fell 0.3%, Germany's DAX lost 0.2%, France's CAC 40 fell by 0.5%, and In London, the FTSE 100 index fell by 0.4%.

 
 
 
  Symbol Last Change Chg.%
1.1860
0.0081
0.6868%
1.3045
0.0058
0.4481%
Tadawul
8505.18
18.45
0.22%
24.606
-0.168
0.676%
39.735
-1.208
2.949%
41.65
-0.81
1.91%
1902.820
-9.195
0.481%
 
 
US
 
Europe
 
Asia