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European shares drop on growth fears, London slides on fresh Brexit drama

Published 10/02/2019, 03:23 PM
Updated 10/02/2019, 03:30 PM
European shares drop on growth fears, London slides on fresh Brexit drama
UK100
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PERP
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STOXX
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STOXXE
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SX3P
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 2 (Reuters) - European shares opened lower on Wednesday,
with London stocks lagging the most on fresh Brexit drama, while
global growth fears intensified after several dismal factory
reports were released across the bloc and the United States.
The FTSE 100 index .FTSE slipped 0.5%, the largest drop
across European regions and ahead of UK Prime Minister Boris
Johnson's talks with Brussels as he prepares to unveil his final
Brexit offer later in the day.
Investors were still reeling from the shock of dismal U.S.
and euro zone factory data on Tuesday, which saw the
pan-European STOXX 600 index .STOXX and the euro zone index
.STOXXE log their biggest one-day drop in two months.
Adding to investor anxieties, European companies looked set
for their worst quarterly earnings in three years as revenue
drops for the first time since early 2018, according to the
latest Refinitiv data. The STOXX 600 index .STOXX fell 0.3% by 0709 GMT, with the
food & beverage index .SX3P clinging to gains as shares in
French spirits maker Pernod Ricard PERP.PA rose 2.1% after
Jefferies upgraded the stock to "buy".

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