Europe closes mostly lower as US-Iran rhetoric heats up

Tuesday, 25. June 2019 17:30

European stocks closed mostly lower on Tuesday as traders focus on the Middle East and the upcoming G20 summit. Following the introduction of new US sanctions against Iran and Tehran's response, US President Donald Trump took to Twitter to warn the Islamic Republic of dire consequences if it attacks America or its interests. An attack on "anything American" would be "met with great and overwhelming force" which "in some areas" could mean "obliteration," Trump cautioned.

Meanwhile, Trump is set to hold a meeting with his Chinese counterpart Xi Jinping at the Osaka summit this weekend as the trade war between the two countries continues.

The DAX dropped 0.38% as Wirecard fell 1.82%. Meanwhile in Paris, the CAC 40 dipped 0.13% with Publicis Groupe leading the losses. The FTSE 100 gained 0.07% at the end of the session. The euro was down 0.14% against the dollar at 5:45 pm CET, buying 1.1383, while the pound declined 0.17% versus the greenback, changing hands for 1.2719.

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Breaking the News / JC