Market News & Analysis
European Equity Market Handover: The Art of No Deal?
Ken Odeluga May 7, 2019 2:28 PM
Stock market snapshot as of [7/5/2019 2:17 PM]
- ‘Art of the Deal’-type interpretations of why Donald Trump suddenly decided to ratchet U.S.-China trade tensions higher again are wearing thin on investors, looking at backsliding European stocks and U.S. futures
- Germany’s DAX is among the worst-off indices in the region in reaction to the European Commission’s reduced forecasts for the euro area, though particularly on Germany
- Relief for European banks from last week’s clutch of better than expected earnings turned out to be short-lived. The sector underperforms with a 2% fall due to lowered European Commission forecasts
- Germany’s consumer care leader, Henkel, is the chief weight on Germany’s DAX after missed forecasts, leaving the shares down 4%. BMW also drags after confirming the first profit fall in its auto unit in a decade. The shares were 2% lower just now
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