- European shares fell on Tuesday as investors sifted through a mixed bag of corporate earnings and eyed latest developments on U.S.-China trade talks and Britain’s progress towards some form of orderly departure from the European Union.
FILE PHOTO: Traders work at Frankfurt's stock exchange in Frankfurt, Germany, October 17, 2019. REUTERS/Ralph Orlowski The pan-European STOXX 600 index , which opened slightly positive, was down 0.3% by 0810 GMT, with France's CAC 40British household goods maker Reckitt Benckiser was the biggest drag on STOXX, slipping to its lowest level in more than one-and-a-half years after it cut full-year sales forecast for the second time this year.
“We’ve had a disappointment from Danone last week and Reckitt-Benckiser today on the consumer side,” said Mark Peden, investment manager, equities at Kames Capital. “Because of trade issues and manufacturing data, it looks as if expectations had gone a bit too negative for the industrial side and a bit too positive for the consumer side, which is why we’re seeing a bit of a mixed shift in the market.”
Earnings being revised down, if German economy really is in a recession...