Tensions between the US and China have confused European stock markets :: Investor.bg


Tensions between the United States and China have confused European stock markets

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European exchanges ended the last session of this week after a mixed performance after tensions between the United States and China rose, calling into question the sustainability of the first-phase trade deal signed earlier this year, CNBC reported.

The pan-European index Stoxx 600 ended the session with a decrease of 0.03% to 340.17 points. The London benchmark FTSE 100 wrote off 0.37% and reached a level of 5993.28 points. The French CAC 40 decreased by 0.02% to a level of 4444.56 points. The German DAX increased by 0.07% to 11,073.87 points.

Tensions between the world’s two largest economies have erupted on several fronts in recent days. China is on track to impose a new national security law on Hong Kong after months of anti-government protests in the autonomous city. This raises further questions about Beijing’s control of the city and is likely to anger the United States and other Western powers that support the protesters.

On Wednesday, the US Senate passed a bill that could ban Chinese companies from listing their shares on US stock exchanges unless they meet US audit and regulatory standards.

A Chinese government official said on Thursday that Beijing would not “tremble at escalating tensions from the United States”, but stressed that economic recovery and co-operation should be a priority, Reuters reported.

The United States provided the AstraZeneca $ 1.2 billion to develop a vaccine against the coronavirus. The UK announced on Thursday that it would purchase more than 10 million coronavirus antibody tests from Roche and Abbott.

The British creditor Lloyds faced dissatisfaction from its shareholders over planned bonuses for its management while Lufthansa announced it was finalizing a $ 10 billion bailout deal with the German government.

The UK deficit rose to a record high of 62.1 billion pounds ($ 75.8 billion) in April, according to data released Friday by the country’s National Statistics Office. For the same reporting period, retail sales in the United Kingdom fell by a record 18%.

The shares of HSBC fell by almost 5%. The books of Standard Chartered and Prudences traded lower by 2% and 9% respectively.

In turn, the shares of the Swedish real estate company SBB rose by 9%.

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