Economic news

European stocks dip on rising risk-off sentiment

European stocks kicked off the week in red zone on Monday as concerns a trade war could have a larger influence than anticipated on China added to worries that higher U.S. interest rates are gradually making stocks less attractive for traders.

Photo: Reuters

The pan-European STOXX 600 index was 0.2 percent lower at 375.55 at the open.

Germany's DAX 30 index slumped 0.6 percent to 12,041 and FTSE MIB Italy edged down 1.4 percent to 20,070.26. The UK's FTSE 100 index lost 0.2 percent to 7,303.45.

A dispute between the Italian government and Brussels about country's deficit is pushing bonds and hitting banking sector.

Shares in Norsk Hydro leaped 4.7 percent after the aluminum firm got a crucial permit to help it restart its Alunorte refinery at half capacity. 

Hearing aid maker William Demant led the decline, sliding 6.9 percent, and shares of Europe’s largest standalone investment company Britain’s Schroders gained 1.2 percent after it said it discussed the details‎ of the partnership with Lloyds Banking Group to create a new joint venture in the wealth management industry.


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