EUROPE MARKETS: Europe Stocks Limp Along, Dented By Trade-war Headlines
18 Septiembre 2018 - 08:37AM
Noticias Dow Jones
By Barbara Kollmeyer, MarketWatch
Zalando slumps, Clariant, Volkswagen push higher
Europe's main stock gauge struggled on Tuesday, dogged by a
deepening U.S.-China trade spat. German retailer Zalando SE was the
worst performer, while Swiss chemicals firm Clariant AG SA
rallied.
What are markets doing?
The Stoxx Europe 600 was barely above the flat line at 378.18,
after Monday's tiny gain of 0.1%
(http://www.marketwatch.com/story/hm-a-bright-spot-for-europe-stocks-as-dax-struggles-2018-09-17).
Germany's DAX 30 edged up 0.2% to 12,120.49, while France's CAC
40 added 0.3% to 5,362.48. The U.K.'s FTSE 100 was flat at
7,301.70.
The euro was changing hands at $1.1692 from $1.1685 late Monday
in New York, while the pound slipped to $1.3135 from $1.3156.
Read:Dollar finds footing as U.S.-China trade fight intensifies
(http://www.marketwatch.com/story/dollar-finds-footing-as-us-china-trade-fight-intensifies-2018-09-18)
What is driving the market?
Traders were distracted by fresh trade tensions after U.S.
President Donald Trump said late Monday he will impose another 10%
tariffs on $200 billion in Chinese imports
(President%20Trump%20has%20imposed%20an%20additional%20+10%%20tariffs%20on%20about%20+$200B%20worth%20of%20imports%20from%20China,%20rising%20to%20+25%%20by%20the%20turn%20of%20the%20New%20Year.)
to take effect next week, with that percentage due to double by
2019. Investors were keeping an eye out for any retaliation by
China.
U.S. stock futures
(http://www.marketwatch.com/story/stock-futures-edge-up-but-trade-uncertainty-remains-in-focus-2018-09-18)
pointed to a bounce for Tuesday, from a trade-tensions-induced
selloff on Monday. Issues surrounding trade have been lingering for
months around markets. The S&P 500 index is still up 8%
year-to-date, while the Stoxx Europe 600 has lagged behind with a
2.8% decline in the same period.
Stock movers
Volkswagen AG (VOW.XE) jumped 2.5%. The auto maker announced
Monday
(https://www.euronews.com/2018/09/17/volkswagen-group-plans-to-build-10-million-e-cars-in-first-wave)
that it will build 10 million electric cars based on its modular
electrification platform. Those shares shook off news that the EU's
antitrust body has opened a formal probe into "possible collusion"
(http://www.marketwatch.com/story/german-car-makers-probed-for-possible-collusion-2018-09-18)
over emissions among big German auto makers big car makers--BMW AG
(BMW.XE), Daimler (DAI.XE), Volkswagen and its Audi AG (NSU.XE)
unit.
BMW and Daimler were little changed, while Audi was off
0.5%.
Clariant (CLN.EB) shot up nearly 8% after the chemicals maker
upgraded guidance and said it had reached agreement
(http://www.marketwatch.com/story/clariant-jumps-on-guidance-raise-sabic-agreement-2018-09-18)
with Saudi Basic Industries Corp. to buy a quarter of the
company.
Zalando (ZAL.XE) sank 12% after the German online retailer cut
its 2018 outlook for the second time since August
(http://www.marketwatch.com/story/zalando-plunges-after-company-cuts-guidance-again-2018-09-18).
(END) Dow Jones Newswires
September 18, 2018 09:22 ET (13:22 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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