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European shares weighed down by trade, Brexit worries

Published 10/09/2019, 03:25 PM
Updated 10/09/2019, 03:30 PM
European shares weighed down by trade, Brexit worries

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 9 (Reuters) - European stocks edged lower in quiet
trading on Wednesday, as tensions heightened between the United
States and China ahead of their crucial trade negotiations,
while more uncertainty over Britain's EU exit also weighed on
sentiment.
The pan-European STOXX 600 index .STOXX was down 0.2% by
0707 GMT, with most country indexes flat to slightly lower.
Tariff-sensitive auto stocks .SXAP lost 0.5%, while the
technology sector shed 0.4%.
Washington's move to impose visa restrictions on Chinese
officials late on Tuesday aggravated worries after the addition
of more Chinese companies to a U.S. trade blacklist, making
investors skeptical of a quick resolution to the protracted
trade war. Talks between the world's top two economies are set to
resume on Thursday.
Beating the negative market trend, Britain's FTSE 100
.FTSE was slightly higher, as shares of export-heavy companies
benefited from a softer pound.
Sterling's weakness was linked to reports that talks between
Britain and the European Union were close to breaking down
without an exit deal.
Companies with upbeat earnings reports were leading gains on
the benchmark index. British bookmaker GVC GVC.L rose 3.2%,
after raising its full-year core earnings forecast.
Dutch online food delivery company Takeaway.com gained 3.4%,
after reporting an 87% increase in third-quarter orders.
Rivals Just Eat JE.L and Delivery Hero DHER.DE rose 2.6%
and 0.3%, respectively.

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