ZCZC
BCN-30
MARKETS-EUROPE-OPEN
European stock markets slide at open
LONDON, June 25, 2018 (BSS/AFP) – Europe’s main stock markets dropped 0.7
percent in opening deals on Monday, as investors worried over the festering
global trade war.
London’s benchmark FTSE 100 index of major blue-chip firms fell to
7,629.01 points compared with Friday’s closing level.
In the eurozone, Frankfurt’s DAX 30 reversed to 12,497.48, while the Paris
CAC 40 declined to stand at 5,350.96 points.
Asian stocks also dipped after US President Donald Trump threatened fresh
tariffs on European cars, and amid reports he is mulling curbs on Chinese
investment the US.
The news persuaded many investors to dump equities, which are widely
regarded as a risky asset in times of economic uncertainty.
“Markets start the week on a risk-off tone after President Trump
threatened to impose tariffs on imported cars from Europe — and he is now
planning to curb Chinese investments in ‘sensitive’ US industries,” said
Konstantinos Anthis, head of research at trading firm ADS Securities.
He added: “Trump’s threats to curb Chinese investments in the US are
casting doubts on the prospects of the US economy and investors are starting
the week with limited appetite.
“Nevertheless, after a few days in the red global stocks are hoping for a
reason to rally.”
BSS/AFP/HR/1358