Economic news

European shares fluctuate following Asia's decline

European stocks struggled for traction in volatile trading on Monday, as a four-session rally lost its momentum after investor caution over fast-increasing U.S. interest rates and U.S. trade row with China hurt Asian markets.

Photo: Reuters

The pan-European STOXX 600 was steady at 364.22 at the open.

France's CAC 40 index was unchanged at 5,102.18 and Germany's DAX 30 index was stable at 11,526.86. Britain's FTSE 100 index slipped 0.1 percent to 7,085.27.

All eyes were on upcoming U.S. mid-term elections as well as a breakthrough in Brexit talks.

The UK’s Barclays and France-based Societe Generale failed to impress in the European banking stress tests but their shares were unchanged in morning deals.

The Italian banking index slumped 1.7 percent after Goldman Sachs cut BPER and Intesa Sanpaolo to “sell”. Their shares slid 3.3 percent and 1.9 percent, respectively.

Ingenico, the global leader in seamless payment, which has attracted bid offer from banking company Natixis, soared 3.6 percent after the payments group appointed a new chief executive on Monday.

Shares in Britain’s Micro Focus leaped 3.3 percent after the company said it predicted full-year revenue to be around the better end of the guidance range and announced the replacement ot its chief financial officer.


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