Investing.com - Financial Markets Worldwide
👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

European shares sink after China hint on rare metals

Published 05/29/2019, 03:19 PM
Updated 05/29/2019, 03:20 PM
European shares sink after China hint on rare metals
FCHI
-
DE40
-
MFEB
-
PSMGn
-
STOXX
-
SX8P
-
SX7P
-
SXAP
-
SXPP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
May 29 (Reuters) - European shares slipped on Wednesday, as
Chinese newspapers warned Beijing was ready to use its supply of
rare metals in an increasingly bitter trade dispute with the
United States, sending investors scurrying for perceived safe
havens globally.
The pan-European STOXX 600 .STOXX index sank 0.9% by 0712
GMT with Frankfurt's DAX .GDAXI , typically sensitive to trade
headlines, and Paris's CAC .FCHI shedding 1% and 1.2%, each.
Slowing growth concerns, stemming from a fears of a
protracted trade war, have put the pan-regional index on track
for its first monthly fall this year.
Exacerbating trade concerns, China's cellphone maker Huawei
Technologies Co Ltd HWT.UL , which has been blacklisted by the
United States, on Tuesday filed a lawsuit against the U.S.
government in a bid to fight the curbs. Taking the biggest hit from the risk aversion were Europe's
auto .SXAP and mining .SXPP stock indexes, down 1% and 1.7%
each while technology .SX8P were weighed down by semiconductor
shares.
The bank index .SX7P also shed 1.3% as Italy's dispute
over its budget with the European Union continued to hurt
sentiment.
The top gainer on the STOXX 600 was Prosiebensat.1
PSMGn.DE which jumped 12% after Italy's Mediaset MS.MI
announced it had acquired 9.6% of the share capital of the
German broadcaster. Mediaset shares rose more than
2%.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.