Economic news

European stocks slip as Sino-U.S trade tensions rise

European shares dropped in morning deals on Wednesday as a deepened U.S.-China trade row looked set to break a six-day streak of gains.

Photo: Reuters

The pan-European STOXX 600 index was 0.4 percent lower at 383.95.

Frankfurt's DAX slumped 0.9 percent to 12,499.41 and Paris CAC 40 tumbled 0.8 percent to 5,393.24. Spain's IBEX 35 dipped 0.7 percent to 9,819.60 and Britain's FTSE 100 was down 0.8% at 7,633.23.

All European sectors opened in negative territory, following the U.S. threats to impose 10 percent tariffs on a list of $200 billion worth of Chinese imports.

Indivior fell near a third after the drugmaker downgraded its 2018 profit outlook after it had lost its market share.

Shares of Burberry slid 4.4 percent after the luxury retailer revised its first quarter results.

UK housebuilder Barratt Developments gained more than 2 percent after the company said that it anticipated earnings to have surged 9 percent in 2018.


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