Plus   Neg

European Shares Subdued After Friday's Strong Rally


European stocks were subdued on Monday after sharp gains in the previous session on hopes of a U.S.-China trade breakthrough.

U.S.-China trade talks will continue in Washington this week as both sides race to reach a deal by the March 1 deadline.

Investors also watched the latest Brexit developments and pondered over the political fall-out from U.S. President Trump's decision to declare national emergency in a bid to fund his promised wall at the U.S.-Mexico border.

The pan European Stoxx 600 was marginally lower at 368.79 in opening deals after climbing 1.4 percent on Friday to log its best weekly gain in three and half months.

The German DAX and the U.K.'s FTSE 100 were down around 0.2 percent, while France's CAC 40 index was little changed.

Swiss Re rose half a percent after announcing it has completed the 2018 public share buy-back program.

Chipmaker AMS jumped over 4 percent on the buzz that it plans to diversify away from the slowing iPhone segment into other consumer areas and industrial applications.

Banks were broadly higher after comments from an ECB official indicating a likely fresh round of long-term loans to banks.

Wire Card soared 13 percent in Frankfurt after Germany's financial regulator temporarily banned short sales of the company's shares.

Supermarket retailer Casino fell over 2 percent in Paris on a brokerage downgrade.

British online trading platform Plus500 tumbled 3 percent after it admitted an error in its prior-year results.

JD Sports Fashion rallied 2 percent after it acquired 8.68 million shares in Footasylum Plc.

Consumer goods giant Reckitt Benckiser jumped more than 4 percent after its Q4 sales growth topped forecasts.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT