European stocks turn down after Brexit, trade-driven rally

- A three-day rally in European shares halted on Monday as investors assessed the scale of progress from Friday’s U.S.-China trade talks and worried that a Brexit withdrawal agreement was still some way off after signs of a major breakthrough.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 11, 2019. REUTERS/Staff/File Photo The pan-European STOXX 600 was down 0.8% at 0814 GMT, handing back nearly half of a more than 2% gain on Friday that was its best day since January. Growing optimism around last week’s Sino-U.S. talks and a Brexit agreement had helped the index log its best weekly performance since in February, making some retreat natural. But analysts said nerves over a slowdown in global growth and the Brexit process were still high.

Mining .SXPP stocks, among the chief barometers of concern over the Chinese economy, shed 2.5%, leading declines among all European sub-sector trading in the red.

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European stocks slink back on warier view of U.S.-China, Brexit talksEuropean stocks took a step backward on Monday as traders took more sober assessments on the prospect of U.S.-China trade pact and a deal for Britain to leave the European Union.
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