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European shares fall on Hong Kong unrest, Trump's disappointing trade comments

Published 11/13/2019, 04:26 PM
Updated 11/13/2019, 04:32 PM
European shares fall on Hong Kong unrest, Trump's disappointing trade comments
ES35
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SESFd
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Nov 13 (Reuters) - European shares retreated from four-year
highs on Wednesday, as a highly anticipated speech by U.S.
President Donald Trump gave no new clues on the progress of a
trade deal with China, and as anti-government protests in Hong
Kong raged on, denting sentiment.
The pan-European STOXX 600 index .STOXX fell 0.2% after
positive German investor sentiment data and a slew of upbeat
earnings had helped it scale highs not seen since 2015 on
Tuesday.
Banks .SX7P as well as trade sensitive auto .SXAP and
mining sectors .SXPP were among the biggest decliners, along
with media-related stocks .SXMP .
Satellite company SES SESFd.PA slumped after a JP Morgan
downgrade to neutral, while German commercial broadcaster
ProSiebenSat.1 PSMGn.DE slid 2.5% after Italy's Mediaset
MS.MI said it could increase its stake in the German peer, but
ruled out a full takeover. Spanish stocks .IBEX led losses among regional peers as
investors were doubtful of a new coalition between Socialists
and far-left Unidas Podemos formed on Tuesday. The unexpectedly
fast preliminary agreement was formed between two parties that
recently refused to work together.

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