European shares were mixed on Monday morning, following Asian trading losses amid trade tensions deepening between the U.S. and China after Donald Trump’s tit-for-tat measures regarding tariffs rise on China goods from current 25 percent towards as much as 30 percent increase.
Tech shares amid such kind of trade developments were among the worst performers at the start of Monday’s trading session. A share tumble followed also German real estate stocks with Deutsche Wohnen (-3.3%) and Vonovia (-1.6%) shares slump as Berlin’s city government announced that it planned to set limits on rent payments.
The pan-European index eased by 0.28 percent, to 370,31 at 8.27 GMT.
The Germany’s DAX 30 and Spain’s Ibex 35 tumbled both by 0.20 percent, to 11,588 and 8.632 respectively;
The French CAC 40 and Italy’s FTSE MIB managed to grow by 0.01 percent, to 5.327 and by 0.10 percent, to 20,494 respectively.
UK’s stocks were closed in connection to a bank holiday.
Tech stocks, as the most sensitive to trade relations, tumbled on Monday by more than 1.2 percent, following the investors’ shift towards a less riskier assets towards safe haven after a new blow of Sino-U.S. tariffs from both sides.
STMicroelectronics securities went down by 4.47 percent. Here are some companies shares growth, that supported stocks on Monday: Thyssenkrupp (+2,13), ArcelorMittal (+2.23), Lufthansa (+1.93), UniCredit (+1.67), UBI Banca (+1.61), Mediobanca (+1.08), BNP Paribas (+1.30), Societe Generale (+1.21), Telefonica (+1.31),etc.