European stocks give up 4-year high on profit-taking

Economies.com
2019-11-26 12:09PM UTC

European stocks fell in early trading on Tuesday, to surrender the 4-year peak hit yesterday on profit-taking, amid investors close following of the recent developments in the US-China trade talks.

 

Stoxx Europe 600 fell by 0.1% as of 11:39 GMT, while it closed higher by 1.1% yesterday, and posted its second straight daily gain, and the highest level since July 2015.

 

The index opened today's session lower, to head for the first daily loss in 3 days, due to profit taking from 4-year high, with most of the major European exchanges and sectors in the negative territory today.

 

Travel and leisure sector stocks saw the largest losses in Europe today, falling by more than 2.5%, after Compass Group share fell 6% after it said deteriorating business and consumer confidence in Europe had hurt business volumes and profit margins.

 

Trade negotiators from the US and China made a phone call and discussed resolving fundamental problems, according to the Chinese Commerce Ministry's press release on Tuesday the call was between the Chinese Vice Premier Liu He with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

 

S&P 500 futures rose by more than 0.3% today and hit its all-time high ahead of Wall Street opening, it also closed higher by 0.75% yesterday, to mark its second straight daily gain and record high of 3,133.83 points.

 

Back to Europe, the Euro Stoxx 50 index fell by 0.1%, the German DAX fell by 0.1%, and France's CAC 40 lost 0.1%, while in London, the FTSE 100 moved on the opposite direction and added 0.2%.

European Market News

Americas News

Markets

Dow Jones rises ahead of US inflation data
2024-03-27 15:35PM UTC
Most US stock indices rose on Wednesday ahead of new important US data on growth and personal ...
Americas News

Markets

Wall Street gains ground following positive data
2024-03-26 15:41PM UTC
US stock indices rose on Tuesday after a series of losses as markets assess latest ...
Americas News

Markets

Wall Street loses ground as the week opens up
2024-03-25 16:16PM UTC
Most US stock indices declined on Monday as markets assess the Federal Reserve’s stance on ...