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European Shares Extend Losses On Risk-off Sentiment


European stocks fell notably on Thursday as mounting tensions between the United States and North Korea sapped risk appetite and helped spur demand for safe-haven assets.

After U.S. President Donald Trump's 'Fire And Fury' warning, North Korea has renewed its threat to strike a U.S. military base in Guam.

The euro dipped slightly against the dollar while the pound edged up after a government report showed U.K. industrial output grew more than expected in June, largely due to higher oil and gas output.

The pan-European Stoxx Europe 600 index was down half a percent at 377.99 in late opening deals after declining 0.7 percent the previous day.

The German DAX was losing 0.7 percent, France's CAC 40 index was moving down 0.4 percent and the U.K.'s FTSE 100 was down as much as 1.1 percent.

U.K. housebuilders fell sharply 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.

Shares of Barratt Developments fell 1.5 percent, Taylor Wimpey lost 1.7 percent and Persimmon shed 1.9 percent.

Mining and trading giant Glencore declined 2.2 percent in London after its first-half earnings trailed estimates.

Swiss staffing firm Adecco Group plummeted 5.5 percent as it posted muted growth in second-quarter net income.

German re-insurer Hannover Re fell 4 percent despite the company reporting an increase in first-half profit and affirming its FY outlook.

Belgian biotech firm Galapagos surged 23 percent after announcing positive topline results with its autotaxin inhibitor GLPG1690 in patients with idiopathic pulmonary fibrosis in a mid-stage study.

Dutch insurer Aegon jumped 6.5 percent after it agreed to sell its Irish business to Athene Holding for about €180m.

Altice shares climbed over 2 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.

Beverage bottler Coca Cola HBC soared 7.5 percent on posting solid first-half earnings.

French wireless operator SFR soared 9 percent after Altice raised its stake in the company.

by RTTNews Staff Writer

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