European stocks give up 21-month peak on profit-taking

2019-10-29 12:23:46 GMT (Economies.com)
European stocks give up 21-month peak on profit-taking

The European stocks indices fell in morning sessions today, to head for the first daily loss in the last 7 days, and leave the 21-month high on profit-taking, while focus shifts to earnings reports for the third quarter by major European companies.

 

Stoxx Europe 600 fell by 0.2% as of 11:15 GMT, while it closed higher by 0.3% yesterday, in its sixth straight daily gain and posted a 21-month peak on hopes about the approach of final trade deal between the US and China.

 

The index opened today's session lower, to head for the first daily loss in the last 7 days on profit-taking, with most of the major European exchanges and sectors falling.

 

The energy sector saw the largest losses in Europe, as oil prices dropped and after BP announced a drop by 41% in its third-quarter earnings on weak prices.

 

The British parliament on Monday rejected Prime Minister Boris Johnson's third attempt to hold a general election on December 12, as the PM failed to secure the required two-thirds majority.

 

Johnson insists on having more public support for his recent Brexit deal with the EU, thus he is likely going to make a fourth attempt through a bill that requires a small majority.

 

S&P 500 futures fell by 0.2%, Wall Street, after it closed higher by 0.6% yesterday on Wall Street, and posted its fourth straight daily gain and its all-time record high of 3,044.08 points.

 

To the European stock markets, the Euro Stoxx 50 index fell by 0.2%, with France's CAC 40 falling by 0.1%, and in Germany, the DAX index fell by 0.2%.

 

While in London, the FTSE 100 led the losses among the major European markets and fell by 0.8%, due to political uncertainty around the Brexit.

 
 
 
  Symbol Last Change Chg.%
1.1060
-0.0002
0.0226%
1.3151
0.0014
0.1043%
Tadawul
8120.01
21.27
0.26%
16.609
0.037
0.222%
59.095
-0.015
0.025%
64.16
-0.23
0.36%
1460.605
0.760
0.052%
 
 
US
 
Europe
 
Asia