African trade ministers meet in Cairo to push forward with AfCFTA    Scatec's $3.6bn renewables portfolio part of Egypt's NWFE energy pillar    Egypt's stocks end lower on Sept 16    Egypt launches international architecture academy with UNESCO, European partners    Egypt's President, Pakistan's PM condemn Israeli attack on Qatar    Egypt's PM, Russian deputy PM discuss industrial zone, Dabaa nuclear plant    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Sisi tells global leaders at Macron's video conference: Israel crossed all red lines    Egypt to begin second phase of universal health insurance in Minya    Madrid trade talks focus on TikTok as US and China seek agreement    Power of Proximity: How Egyptian University Students Fall in Love with Their Schools Via Social Media Influencers    Egypt wins Aga Khan Award for Architecture for Esna revival project    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Europe stocks hit three-week low as tech, autos dive
Amwal Al Ghad Published in Amwal Al Ghad on 20 - 11 - 2018

European stocks trade lower during Tuesday morning trade, as investors keep abreast of market news and await any further developments surrounding Brexit.
The pan-European Stoxx 600 opened 0.4 percent lower, with all major stock indexes in negative territory.
Markets in Europe are expected to follow Asia's downbeat session, after news emerged that Nissan's Chairman Carlos Ghosn was arrested yesterday, over allegations concerning financial misconduct.
Nissan released a statement on Monday, which said that “over many years” Ghosn and board director, Greg Kelly, had been under-reporting compensation amounts to the Tokyo Stock Exchange securities report. The autos giant added that there had been a number of other “significant acts of misconduct” that had been unearthed.
During Europe's Monday session, Renault shares sank – hitting their lowest level in three years. On Tuesday, shares of Nissan reacted to the news, with the stock down over 5 percent during the session. Investors in Europe will likely be keeping a close eye on the stock in the coming days, as new information emerges.
Market sentiment is further dampened from a weak Monday session on Wall Street, which saw the Dow Jones Industrial Average tumble almost 400 points by the close, as tech stocks took a beating.
Switching focus, Brexit continues to keep markets busy, as the U.K. government is put in the spotlight, after a series of resignations and a dramatic fall in the currency took place last week. In spite of the opposition surrounding the current draft withdrawal agreement, Prime Minister Theresa May is continuing to stand her ground on the matter, telling business leaders that this deal puts the country's economic success above everything else.
The European Union is expected to hold a summit to discuss this agreement over the coming week, while fears that May could be facing a possible vote of no-confidence hangs in the air. Sticking with politics, investors will also be keeping an eye on any news surrounding U.S.-China trade relations, as a meeting between leaders of the both nations draws closer.
Looking to today's session, EasyJet, Julius Baer, Enel and BASF will be watched closely during the session, as each company is due to issue fresh business updates.
Source: CNBC

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