Cyclical stocks knock Europe lower, focus on EU talks

An index of eurozone shares .STOXXE were down 0.5%, with the euro jumping to a four-month high. [FRX/]

EU leaders were making progress after three days of haggling over a plan to revive economies throttled by the COVID-19 pandemic, but Dutch Prime Minister Mark Rutte warned the discussions could still fall apart. The broader European equities index also fell 0.5%, while Asian markets remained subdued as coronavirus cases increased in many countries. [GLOB/MKTS]

Travel & leisure .SXTP fell 2.2%, the biggest sectoral decliner in Europe, while oil & gas companies .SXEP, automakers .SXAP and banks .SX7P dropped more than 1% each. Swiss wealth manager Julius Baer Gruppe AG declined 5.5% as it reported a 6% drop in assets under management from end-2019 in the six months through June.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump fails to call Ireland's premier who said Europe must 'stand up' to him - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Ugh we’re so tired of this man He just hates criticism
Read more »