[BENGALURU] European stocks continued their decline on Monday, on the heels of this year's biggest weekly loss, as an escalation in the US-China trade war battered sentiment and prompted investors to shift into safer bets.
Germany's trade-sensitive DAX dropped 1.5 per cent, while French shares fell 1.2 per cent. London-traded stocks fell to a two month closing low, down 0.6 per cent.Graham Secker, European equity strategist at Morgan Stanley, said the near-term worsening in the risk-reward outlook for equity markets, amid rising trade tensions, may drive more traditional defensive sectors to outperform.Utilities stocks - oft-considered a defensive bet - rose 0.2 per cent.
The slide on the day took the sector index from outperforming the STOXX 600 in the year to date to underperforming the broad benchmark. While the STOXX 600 has added 10.3 per cent in 2019, auto stocks are now up 9.7 per cent. Chemicals firms slid 1.3 per cent, with polymer maker Victrex Plc diving 7.2 per cent after warning annual growth could stall following a much weaker first half due to fewer automotive and consumer electronics contracts.
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:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global stocks slip, bonds rally as US-China trade fears growAsian equities tracked Wall Street's slide on Wednesday as the latest developments in the U.S.-China trade conflict fanned fresh fears about ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia stocks slip, bonds rally on fears China-US trade deal unravelingAsian equities tracked Wall Street's slide on Wednesday as the latest developments in the U.S.-China trade conflict fanned fresh fears about ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia stocks slip, bonds rally on fear China-US trade deal could unravelAsian equities tracked Wall Street's slide on Wednesday as the latest developments in the U.S.-China trade conflict fanned fresh fears about ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
European stocks tumble as US, China exchange trade war salvosLONDON: European stock markets came under intense pressure on Monday (May 13) from new eruptions in the US-China trade war, while oil rallied on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian stocks, yuan fall as US-China seen deadlocked in trade talksSYDNEY: U.S. stock futures fell and Asian shares slipped on Monday on growing uncertainty over whether the United States and China will be able to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China, Hong Kong: Stocks extend fall on renewed US tariff threat[SHANGHAI] China stocks continued to slide on Thursday, after US President Donald Trump vowed not to back down on imposing new tariffs on Chinese imports, but there was no panic selling, with Monday's over 5 per cent plunge largely pricing in the penalty. Hong Kong shares also declined. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
China urges US to respect market economy after China Mobile denied entryWASHINGTON/HONG KONG: China urged Washington on Friday to stop putting 'unreasonable pressure' on Chinese companies after U.S. regulators voted to ... This might be the funniest headline of the day.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »