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Share Price: 487.10
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Change: -4.15 (-0.84%)
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Open: 488.80
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UPDATE 1-European shares hit by Bayer, Lufthansa; FTSE shines

Tue, 30th Jul 2019 09:31

* STOXX 600 posts worst fall since May

* Trump tweets hit trade-sensitive German shares

* Irish stocks hurt by Brexit woes(Updates to close)

By Susan Mathew and Medha Singh

July 30 (Reuters) - Europe's main STOXX 600 index posted itsworst session since a selloff in May on Tuesday after U.S.President Donald Trump ramped up his trade rhetoric againstChina, deepening wounds left by a batch of weak economic dataand corporate earnings.

The pan-European equities index closed down 1.5% inheavy trading and Germany's trade-sensitive stocks hita six-week low after Trump warned China against waiting out hisfirst term in office to finalise any trade deal.

Automakers, sensitive to trade headlines, fell 2.3%.But banks led declines among European sectors due togrowing expectations of lower interest rates.

The U.S. Federal Reserve is set to conclude its monetarypolicy meeting on Wednesday, with investors looking for signalson whether a widely expected 25-basis-point rate cut from theU.S. central bank will be the start of an easing cycle.

"It's unlikely you'll see consolidation tomorrow if there'sa (Fed) cut. In the short term, people are emptying their books,taking profits and getting ready for holidays," said StephaneBarbier de la Serre, a macro strategist at Makor Capital Marketsin Geneva.

As evidence continues to build of the impact of a bruisingtrade war on global growth, expectations that major centralbanks will adopt accommodative policies have buoyed globalmarkets since a sharp fall in May.

A series of weak economic data from France, Germany and theeuro zone as a whole painted a meagre growth outlook, lendingsupport to doves among the European Central Bank.

A slide in the British pound on worries of a disorderlyBrexit failed to support the FTSE 100, which fell 0.5%.

Banks were a big drag on the index after the Bank of Englandsaid they will have to tell investors in 2021 if they can beclosed down without creating havoc in financialmarkets.

British Gas parent Centrica sank 19% to its lowestlevel in more than two decades as it slashed its dividend andsaid its chief executive would step down.

Imperial Brands PLC and British American Tobacco PLCslipped more than 4% after U.S. rival Altria Groupposted a tepid forecast for domestic cigarette volumes.

Ireland's main stock index ISEQ, which tends to fallon fears of a no-deal UK departure from the European Union, slid2.2%, its biggest one-day percentage drop since December 2018.

The latest company to become victim to trade disputes wasGermany's Bayer, which slipped 3.7% after theagricultural supplies company said its full-year earnings targethas become harder to reach.

Airline Lufthansa dropped 6% after posting adecline in second-quarter earnings and saying that the Europeanmarket was likely to remain challenging this year.(Reporting by Susan Mathew and Medha Singh in Bengaluru,additional reporting by Josephine Mason in London; editing byToby Davis)

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Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

LONDON, Dec 19 (Reuters) - Prices for Norway's Johan Sverdrup crude soared on Tuesday, a move traders said could be linked to mounting concerns around the security of crude flows into Europe following maritime attacks by Yemen's Houthis in the Red Sea.

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

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*

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

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19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

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19 Dec 2023 11:49

LONDON MARKET MIDDAY: FTSE 100 flat; Eurozone inflation cools to 2.4%

(Alliance News) - Stock prices in London were mixed at midday Tuesday, despite news that the eurozone's inflation is edging closer to its 2% target.

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LONDON MARKET OPEN: Stocks rise as investors pin hopes on US rate cuts

(Alliance News) - Stock prices in London opened higher on Tuesday, with sentiment still buoyed by expectations of rate cuts in the US.

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18 Dec 2023 18:18

Red Sea attacks force rerouting of vessels, disrupting supply chains

Houthis launched series of attacks, latest on Monday

*

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18 Dec 2023 17:40

Europe Gasoline/Naphtha-Margins slip as Red Sea attacks push oil higher

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Trades   Bids     Offers   Prev.    Sellers  Buyers
(vol.) Trades
Ebob $727.50
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob $728
Barges
E10
Platts(fo
b ARA)
Ebob $735.50 Varo, Trafigu
Barges (4KT) Glencor ra
Argus e
E5(fob
AR)
Ebob $727 Shell, Varo,
Barges 11KT Exxon Totsa
E10 Argus
(fob AR)
Jan. swap $741.25 $725.25
fob ARA
Premium
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes
(fob MED)
Cargoes
(cif NWE)
Naphtha Jan
(cif NWE) +$14
<NAF-C-NW
E>

Ebob crack (per barrel) $8.6 Prev. $9.7
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ahmad Ghaddar; Editing by Mark Porter)

Read more
18 Dec 2023 16:55

LONDON MARKET CLOSE: FTSE 100 outperforms European peers

(Alliance News) - Stock prices in London closed higher on Monday, after investors shrugged off hawkish comments from US Federal Reserve officials amid festive cheer.

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18 Dec 2023 12:52

Red Sea attacks force rerouting of vessels, disrupting supply chains

DUBAI, Dec 18 (Reuters) - Mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea are disrupting maritime trade as leading global freight firms reroute around the Cape of Good Hope to avoid the Suez canal.

Read more

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