Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

REFILE-UPDATE 2-European stocks pause after third week of gains

Stock MarketsJun 22, 2019 01:35
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
REFILE-UPDATE 2-European stocks pause after third week of gains

(Adds percentage fall for the healthcare sector in paragraph
10)
* Healthcare stocks lead losses
* IQE tumbles after revenue warning; weighs on chip stocks
* German, French, eurozone PMIs better-than-expected

By Medha Singh and Susan Mathew
June 21 (Reuters) - European shares retreated on Friday, led
by healthcare and media companies, at the end of a third week of
gains dominated by signs that the world's big central banks are
on the verge of another round of action to support growth.
Traders said many investors had been tempted to cash in some
of this month's around 4% gain, encouraged by escalating
tensions between Washington and Iran, and the pan-regional STOXX
600 index .STOXX ended 0.4% lower.
It was also a day of "triple witching" where investors
unwind positions in futures and options contracts before they
expire which often leads to large unexpected moves in markets.
There was another jolt for chipmakers early in the day from
British semiconductor wafer maker IQE Plc IQE.L , warning of
lower-than-expected revenue in 2019 as the U.S. ban on Huawei
Technologies spreads through the industry's global supply chain.
The technology index .SX8P fell 0.4%, and was among the
biggest fallers.
Against that were German and French purchasing manager
surveys which both topped expectations but were not enough to
undo expectations that the European Central Bank and others will
need to take action to support growth soon. "Germany's manufacturing sector remains deep in contraction
and the global economic outlook isn't great, so perhaps it's
still a little early for optimism," said Craig Erlam, senior
market analyst at Oanda in London.
The benchmark index .STOXX , is on course to recover almost
all of its losses from a sharp sell-off in May, as the Federal
Reserve and ECB signalled that they were ready to act to counter
the impact of U.S.-China trade tensions on a slowing global
economy.
Investors will now look to a G20 summit in Japan next week
for progress from the United States and China on resolving the
differences that drove the worst monthly performance in European
stock markets in more than two years in May.
Healthcare stocks .SXDP led losses on the STOXX 600, down
1.4% after three days of gains when it added 3%.
Drugmaker Novartis NOVN.S fell 1.1% after a U.S. group
that reviews the value of medicines said the list price for
Swiss drugmaker's new multiple sclerosis drug Mayzent was "far
out of line" compared with its benefits. Paris-listed shares in SES SESFd.PA also tumbled nearly 5%
was the bigger faller on STOXX 600 on talks that the satellite
communications firm could downgrade its second-quarter numbers.
A fall in the pound on growing expectations that hard Brexit
proponent Boris Johnson will become prime minister kept
Britain's FTSE 100 .FTSE afloat, pushing up stocks in
international companies who source much of their revenue abroad.
Dublin's ISEQ .ISEQ , which is sensitive to Brexit news,
slipped 1.1%.
Markets in Finland and Sweden were shut for the Midsummer's
Eve holiday.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Monthly price performance of STOXX 600 https://tmsnrt.rs/2Fnq5EG
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

REFILE-UPDATE 2-European stocks pause after third week of gains
 

Related Articles

CrowdStrike Shares Gain On Earnings, Revenue Beat
CrowdStrike Shares Gain On Earnings, Revenue Beat By Investing.com - Dec 02, 2021

By Sam Boughedda Investing.com — CrowdStrike shares are climbing after-hours after the company announced earnings per share of 17 cents on revenue of $380.1 million. Analysts...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email