Europe closes in red amid trade concerns

Monday, 18. November 2019 17:30

Equities on major European stock markets finished the first trading session of the week mostly lower with the focus on the ongoing trade war. European Central Bank Vice President Luis de Guindos claimed a recession was unlikely to happen in the European Union. His colleague, Philip Lane, stated Brussels was prepared for every Brexit scenario. In business, the Emirates Group revealed it was buying 50 Airbus SE's A350 jets for $16 billion. Tata Steel Ltd. said it was planning to reduce its European workforce without specifying the number of layoffs.

The FTSE 100 was flat at the closing bell. Aviva plc was the worst, while Nmc Health plc was the best performer on the index. The DAX lost 0.26%, with Volkswagen AG dropping 4.10% on lowered 2020 guidance. The CAC 40 decreased 0.16% as Peugeot slipped 3.70%.

The euro was up 0.30% against the greenback to sell for 1.10874 at 5:29 pm CET. The pound gained 0.51% to change hands for 1.29699 dollars at the same time.

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Breaking the News / MD