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European Shares Extend Losses On Risk Aversion


European stocks fell on Tuesday to extend losses from the previous session as global growth worries persisted and investors watched the latest developments on Brexit after U.K. Prime Minister won support from Britain's top business group for her draft Brexit deal.

In addition, traders remained skeptical about the outcome of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit in Argentina later this month.

The pan-European Stoxx Europe 600 index was down 0.7 percent at 352.66 in opening deals after declining 0.7 percent the previous day.

The German DAX was losing 1.1 percent, France's CAC 40 index was down 0.9 percent and the U.K.'s FTSE 100 was moving down 0.4 percent.

The British pound held steady against the euro and dollar as investors looked forward to a testimony by Bank of England policymakers on the latest November inflation report.

Apple suppliers fell after reports that the tech giant is cutting production orders for its newest iPhones. AMS dropped 1.7 percent, STMicroelectronics declined 1.8 percent and Infineon Technologies shed 2.3 percent.

BHP Billiton lost about 1 percent as the mining giant settled a long-standing transfer dispute with the Australian tax authority over commodity payments made to its Singapore marketing business.

Low-cost airline EasyJet tumbled 3.3 percent despite posting strong financial results for fiscal 2018.

French carmaker Renault fell 2.6 percent to extend the previous session's slump after CEO Carlos Ghosn was arrested.

Chemicals giant BASF fell 2.5 percent in Frankfurt. The German company said that about 20,000 employees worldwide would be directly or indirectly affected by reorganization.

British industrial software firm AVEVA rallied 3.2 percent after announcing solid interim results for the six months ended 30 September 2018.

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