European Markets Sink Further Amid Rising Geopolitical Tensions

The European markets ended Thursday’s session solidly in negative territory, extending the losses of the previous session. Investors remain in a nervous mood as tensions between the United States and North Korea continue to escalate. Traders continue to exit riskier investments in favor of safe havens.

The pan-European Stoxx Europe 600 index weakened by 1.10 percent. The Euro Stoxx 50 index of eurozone blue chip stocks decreased 1.01 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 1.36 percent.

The DAX of Germany dropped 1.15 percent and the CAC 40 of France fell 0.59 percent. The FTSE 100 of the U.K. declined 1.44 percent and the SMI of Switzerland finished lower by 0.86 percent.

In Frankfurt, Hannover Re fell 4.86 percent despite the company reporting an increase in first-half profit and affirming its FY outlook.

Lanxess tumbled 3.30 percent. The specialty chemical company’s second-quarter profit plunged 96 percent to 3 million euros from last year’s 75 million euros, hurt by one-time exceptional charges.

Henkel sank 3.77 percent after it reported weaker than expected second quarter results.

Heidelberger Druckmaschinen soared 8.85 percent after its first-quarter loss narrowed to 16 million euros from last year’s 37 million euros, due to lower financing costs.

ThyssenKrupp rose 0.86 percent. The steel giant backed its FY outlook after posting better-than-expected third-quarter results.

In Paris, wireless operator SFR soared 9.22 percent after Altice raised its stake in the company.

In London, mining giant Glencore declined 2.46 percent after its first-half earnings trailed estimates.

Beverage bottler Coca-Cola HBC surged 9.23 percent after posting solid first-half earnings.

Homebuilders dropped after a survey showed U.K. house prices in July rose at the slowest rate since early 2013 due to political uncertainty and the impact of tax changes. Barratt Developments fell 2.88 percent, Taylor Wimpey lost 2.98 percent and Persimmon shed 2.92 percent.

Staffing firm Adecco Group sank 6.41 percent in Zurich as it posted muted growth in second-quarter net income.

Insurer Aegon jumped 5.30 percent in Amsterdam after it agreed to sell its Irish business to Athene Holding for about €180m.

Altice climbed 0.92 percent. Reuters reported that the telecom conglomerate and its U.S. cable unit are in the early stages of working on an offer to buy Charter Communications Inc.

Biotech firm Galapagos surged 8.30 percent after announcing positive…

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