Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    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    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European markets closed lower Tuesday, amid escalating concerns about a slowing global economy.
Published in Amwal Al Ghad on 19 - 12 - 2018

The pan-European Stoxx 600 closed provisionally down 0.82 percent, with most sectors and major bourses in negative territory.
The Stoxx 600 has fallen more than 12 percent year-to-date, dragged lower by heightened fears of a possible slowdown and political uncertainty. The index is also on track for its fourth straight month of declines.
Europe's oil and gas stocks were the biggest fallers Tuesday, down 2.47 percent as crude prices came under further strain from oversupply concerns. Oil prices sank to a 15-month low following news that output from the U.S. and Russia had hit record levels ahead of planned output cuts by OPEC and its allies.
Looking at individual stocks, Britain's Indivior surged toward the top of the European benchmark on Tuesday. The drugmaker announced it would sell a cheaper version of its flagship opioid addiction treatment drug, while maintaining its full-year profit and revenue forecast. Shares of the London-listed stock surged nearly 18 percent higher on the news.
Getlink was also trading higher during afternoon deals. It comes after French builder Eiffage bought a 5 percent stake in the firm, which operates the Channel Tunnel between France and the U.K. Shares of Getlink rose nearly 5.5 percent.
On the other end, shares of utility providers fell around 2 percent following news that SSE and Innogy's Npower had ditched plans to merge their U.K. energy retail operations, citing "challenging market conditions." The deal would have created the U.K.'s second-largest energy supplier. Shares of Innogy slipped 0.91 percent, while SSE's stock fell 1.28 percent.
On the data front, Germany's Ifo business sentiment index came in weaker-than-expected on Tuesday. The survey of business sentiment in Germany dropped to 101.0 in December, down from 102.0 in November. The euro was little changed on the news, trading at 1.1385 against the dollar at around 10:20 a.m. London time.
Darkening growth outlook
Market focus is largely attuned to a darkening global growth outlook, following a flurry of sluggish economic reports. On Monday, the National Association of Home Builders Housing Markets Index indicated U.S. homebuilder sentiment had dipped to a three-and-a-half year low. It was the second straight month of disappointing reading.
The gloomy data compounded weaker-than-expected economic news from Europe late last week.
In addition, a profit warning from Asos shocked investors on Monday. Shares of the company tumbled more than 30 percent on the news.
The previously high-flying clothing retailer also prompted U.S. consumer discretionary shares to fall almost 3 percent, with stocks on Wall Street slipping to their lowest levels in more than a year on Monday.
On Tuesday, U.S. stocks rebounded, with the S&P 500 climbing 1 percent after falling to a new 2018 low in the previous session. The Dow Jones Industrial Average jumped more than 280 points while the Nasdaq Composite rose 0.8 percent.
Back in Europe, Britain's embattled Prime Minister Theresa May announced Monday a parliamentary vote on her Brexit deal would take place in the third week of January.
This prompted Britain's leader of the opposition, Jeremy Corbyn, to table a motion of no confidence in Theresa May, saying it was unacceptable for parliament to wait another month to vote on the deal.
U.K. lawmakers were initially scheduled to have their say on the terms of Britain's withdrawal from the EU last week but the prime minister delayed the vote, admitting she was likely to lose.
Source: CNBC


Clic here to read the story from its source.