European Markets Finish Little Changed As Geopolitical Concerns Persist

The European markets ended Tuesday’s session with mixed results, but ended the day little changed overall. The markets remained stuck in a sideways patter throughout the session. Investor sentiment continued to be impacted by the results of the German election over the weekend, as well as concerns over the escalating tensions between the U.S. and North Korea.

North Korean Foreign Minister Ri Yong Ho claimed late Monday that recent comments by President Donald Trump represent a “declaration of war.”

“Last weekend, Trump claimed that our leadership wouldn’t be around much longer, and hence, at last, he declared war on our country,” Ri said.

He added, “Given the fact that this comes from someone that is currently holding the seat of the United States presidency, this is clearly a declaration of war.”

The pan-European Stoxx Europe 600 index weakened by 0.04 percent. The Euro Stoxx 50 index of eurozone blue chip stocks decreased 0.04 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.07 percent.

The DAX of Germany climbed 0.08 percent and the CAC 40 of France rose 0.03 percent. The FTSE 100 of the U.K. declined 0.21 percent and the SMI of Switzerland finished lower by 0.29 percent.

In Frankfurt, utility RWE rose 0.76 percent after launching a tender offer for hybrid bonds.

Similarly, real estate firm Deutsche Wohnen jumped 3.08 percent after launching a new convertible bond offering of 800 million euros due 2026.

In London, easyJet shares rallied 1.61 percent. Insolvent airline Air Berlin said it expects to conclude talks with easyJet and Lufthansa about a possible sale by the middle of next month.

Travel firm Thomas Cook Group fell 2.98 percent after replacing its CFO.

Engineering group ABB dipped 0.63 percent in Zurich after announcing a supply and technology partnership with Northvolt.

Nestle advanced 1.71 percent after confirming its mid-single digit organic growth target by 2020.

Germany’s import price inflation accelerated in August on higher intermediate and energy prices, data from Destatis showed Tuesday.

Import prices advanced 2.1 percent year-on-year in August, faster than the 1.9 percent increase seen in July. The annual rate came in line with expectations.

Export price inflation held steady at 1.5 percent in August.

France’s manufacturing confidence weakened slightly in September, survey data from the statistical office Insee showed Tuesday. The business confidence index among manufacturers fell to 110 in September…

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