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Host of global worries drive European shares lower

Published 08/13/2019, 03:28 PM
Updated 08/13/2019, 03:30 PM
Host of global worries drive European shares lower
ES35
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IT40
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HNKG_p
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STOXX
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SX7P
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SXDP
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SX86P
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HFGG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 13 (Reuters) - European shares fell on Tuesday, as a
slew of economic and geopolitical worries including Italy and
Argentina's political uncertainty and unrest in Hong Kong,
compelled investors to take refuge in safe harbors like bonds
and gold.
The pan-European STOXX 600 index .STOXX fell 0.3% by 0715
GMT, with the bank-heavy Milan .FTMIB and Madrid .IBEX
indexes leading losses.
Markets, already reeling from fears that the United States
and China may not end their bitter trade-war anytime soon, were
distressed further as Argentina's currency crashed, unrest in
Hong Kong intensified and Italy's political worries deepened.
The dour mood in general has seen bond yields dive and banks
take a beating, with European lenders .SX7P leading sector
declines.
Corporate news was light as the second-quarter earnings
season draws to a close.
Henkel HNKG_p.DE shares slid 4% after the German consumer
goods company lowered its full-year outlook for sales and
earnings, but German meal-kit delivery firm HelloFresh HFGG.DE
jumped 12% on breaking-even for the first time since its trading
debut.
Defensive plays such as real estate .SX86P and healthcare
.SXDP were among the few sectors in the black.

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