Ministry of Investment organises visit for African ambassadors to New Administrative Capital    Lebanese banks close on security fears amid talks on new gov't    Turkey's Erdogan says will tell Trump U.S. failed to keep Syria promise    Egypt to start imposing increased fees on flight tickets later this week    Israel targets Damascus home of Islamic Jihad official, group says    French police disperse protesters blocking major Spain-France road link    Afghanistan to swap Taliban militants for American, Australian captives    Manchester City don't need to sign another defender: Kompany    'We figured things out', says England's Sterling after Gomez clash    Gulf stocks mostly little changed; financials drive Saudi up    Flash mob rallies in downtown Hong Kong financial district    Egypt's gold prices recover despite global losses: Sabayek Misr    Oil falls as stocks awaits news on trade talks, oversupply concerns weigh    Sisi: development is the best means to fight terrorism, extremism    Two Egyptian short films to screen at Nigeria's 4th Africa International Film Festival    In Photos: Asasif coffins arrive at Grand Egyptian Museum for display    Liverpool win over City suggests long wait may come to an end    Even a little running might help you live longer    Blood supplies inadequate in many countries: Study    During deep sleep, the brain does housekeeping    Egypt's parliamentary affairs minister heads to Geneva for UNHRC meetings    In Photos: Omar Khairat stars at Cairo's Arab Music Festival    10 tips to have your 30s starting a lifelong success    Nike to investigate its Oregon Project following Mary Cain's NYT op-ed    ‘Shining' sequel ‘Doctor Sleep' targets $25 mln opening, has Stephen King's blessing    Egypt, Ethiopia, Sudan to work to resolve Nile dam feud by January 15    Sisi: Egypt believes in comprehensive approach to human rights    Egypt's FM Shoukry : GERD talks in Washington yielded positive results    UK University of Hertfordshire to open campus in Egypt new capital    Egypt's bourse, banks to close Sunday to mark Prophet Muhammad's birth    Egypt rejects politicised reports on human rights conditions – parliament    Egypt to vote on 3-month extension of state of emergency Monday    Jurgen Klopp gives injury update on Egypt's Mohamed Salah    Al Pacino says follows this mantra on every acting job    Remembering Mustafa Mahmoud, philosopher of his time    Egypt's Ahly Ramadan Sobhi on Serie A clubs' radar: agent    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

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

European markets mostly lower as Brexit hits another roadblock
Published in Amwal Al Ghad on 23 - 10 - 2019

European markets traded mostly lower Wednesday morning after British lawmakers forced Prime Minister Boris Johnson to pause the progression of his Brexit deal.
The pan-European Stoxx 600 fell 0.3 percent in morning trade, tech stocks dropping 1.4 percent to lead losses, on the back of a bleak Texas Instruments revenue forecast, as most sectors traded in negative territory.
Lawmakers on Tuesday night voted in principle for Johnson's Withdrawal Agreement Bill to proceed through parliament, but rejected the prime minister's plans to get it approved within three days, which offered a limited time frame for MPs to review the legislation.
Focus now turns to the EU for a verdict on whether to grant an extension to the October 31 deadline, a move recommended by EU Council President Donald Tusk, and for how long.
Should the deadline be extended to January 31, Johnson could call a general election in a bid to consolidate his mandate, with his ruling Conservative Party leading in the polls.
Earnings in focus
PSA Peugeot Citroen reported rising third-quarter revenues before the bell on Wednesday despite a gloomy outlook for the auto market. Revenue rose to 15.58 billion euros ($17.35 billion) from 15.43 billion euros a year earlier. The French carmaker expects automotive markets to decline by 1 percent in Europe, 5 percent in Latin America and 7 percent in China.
Dutch brewer Heineken trimmed its profit forecast for the year after a drop in third-quarter sales in the Americas, causing its shares to fall 1.6 percent in early trade.
AkzoNobel saw its core profit jump 23 percent in the third quarter and announced a 500 million euro ($556 million) share buyback, leading the stock 1.1 percent higher.
Biggest movers
Pandora shares jumped 12.2 percent to lead the Stoxx 600 in early trade after Carnegie upgraded the Danish jeweler's stock to hold from sell, according to Reuters.
Norwegian financial services group Storebrand climbed 5.8 percent early in the session after strong third-quarter results, while compatriot insurance company Gjensidige Forsikring suffered contrasting fortunes following its earnings report, sliding 5.2 percent to the bottom of the European blue chip index.
Source: CNBC

Clic here to read the story from its source.