EUROPE MARKETS: European Markets Start 2019 In The Red After Asia Falls

Fecha : 02/01/2019 @ 04:51
Fuente : Noticias Dow Jones
Emisora : BHP Group Limited (BHP)
Cotización : 41.73  0.52 (1.26%) @ 22:45
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EUROPE MARKETS: European Markets Start 2019 In The Red After Asia Falls

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6 Meses : De Dic 2018 a Jun 2019

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By Emily Horton

European markets' 2019 debut was negative on Wednesday, as a poor day of trading in Asia and gloomy investor sentiment weighed on stocks

Mining stocks were among the biggest fallers, with BHP Group PLC (BHP.LN) and Antofagasta PLC (ANTO.LN) both down more than 4%. Oil stocks were also under pressure.

How are markets trading?

The Stoxx Europe 600 lost 1.1% to 334.03 on Wednesday after finishing 2018 down 13.2%.

France's CAC was the biggest regional loser, falling by 1.9% to 4,640.10. The U.K.'s FTSE 100 fell by 1.2% to 6,649.53, followed closely by Italy's FTSE MIB index which lost 1.3%, while Germany's DAX 30 dropped by 0.7%.

The euro slid to $1.1429 from $1.1466 late in New York on Tuesday. The pound fell to $1.2688 from $1.2745.

What is driving the markets?

A temporary administrator has been appointed by the European Central Bank for the troubled Italian lender Banca Carige SpA (CRG.MI), after the majority of the bank's board members resigned on Wednesday, CNBC reported (

Asian stock markets tumbled ( Wednesday as 2019 trading began, after surveys showed Chinese manufacturing weakening. The Chinese manufacturing downturn "raises a few red flags," said Vishnu Varathan, Head Economics & Strategy at Mizuho Bank. The slide is "not entirely surprising given more challenging global trade conditions," but it is "potentially symptomatic of far sharper underlying demand pullback," said Varathan.

In the U.S. President Donald Trump ramped up pressure on Democrats in an attempt to secure funding for a border wall between the U.S. and Mexico, formally inviting them on Wednesday to a bipartisan meeting at the White House amid a partial government shutdown, The Wall Street Journal reported (

Pharmaceutical companies started off the New Year by raising the price of hundreds of drugs, with Allergan PLC (AGN) increasing its prices by nearly 10% on more than two dozen products, according to a new analysis, the Journal also reported (

What stocks are active?

Gerresheimer AG, a German company that makes glass and plastic products for the pharma industry, topped Europe's stock market losers, falling by almost 7%.

Mining and oil stocks also felt the heat, with BHP Group PLC and Antofagasta PLC both down over 4%. Paris-listed oil and gas tech company TechnipFMC dropped by 5.5%.

Travel provider TUI Group rose by just over 2.5%, while Danish medical technology group Ambu A/S was Europe's top gainer, rising 4.3%.


(END) Dow Jones Newswires

January 02, 2019 05:36 ET (10:36 GMT)

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