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European Shares Little Changed On US-China Trade Worries

asian markets1 29nov19

European shares were little changed on Friday as Hong Kong braced for a fresh round of protests over the weekend.

Meanwhile, the editor of China's state-backed Global Times tabloid said in a tweet that China is considering to put the drafters of the Hong Kong Human Rights and Democracy Act on the no-entry list, barring them from entering the Chinese mainland, Hong Kong and Macao.

The pan-European Stoxx 600 was marginally lower at 409.16 after declining 0.15 percent in the previous session.

The German DAX slipped 0.1 percent and the U.K.'s FTSE 100 was marginally lower while France's CAC 40 index was little changed.

Norway's largest bank DNB slumped 6 percent after police launched an investigation into the handling of payments from an Icelandic fisheries firm to Namibia.

Swiss specialty chemicals company Clariant shed 0.6 percent after announcing it has established a strategic partnership with French cosmetics ingredients maker Plant Advanced Technologies.

Nissan Motor shares edged up half a percent. At the monthly operating Board meeting, Renault-Nissan-Mitsubishi Alliance has decided to appoint a General Secretary to be named in the coming days. The General Secretary will report to the Alliance Operating Board and CEOs.

Speed-train maker Alstom lost about 1 percent. The company has signed a contract with the Italian operator FERROVIENORD for the supply of a first batch of 31 regional trains to Lombardy Region for a total value of 194 million euros.

Electric utility E.ON rose 1.1 percent. The company lifted its full-year guidance despite reporting a fall in nine-month adjusted net income.

In economic news, Germany retail sales grew at a much slower pace in October, data from Destatis revealed.

Retail sales grew only 0.8 percent annually after expanding 3.4 percent in September. Economists had forecast an annual growth of 3 percent. Nonetheless, this was the fourth consecutive increase in sales.

France's economy expanded as initially estimated in the third quarter while consumer price inflation accelerated in November, driven by food and services costs, official data showed.

French GDP climbed 0.3 percent sequentially, the same pace of growth as seen in the second quarter. The rate matched the estimate published on October 3.

Consumer price inflation rose to 1 percent in November, as expected, from 0.8 percent in October, provisional estimate from Insee showed.

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