Europe stocks stumble as weak oil price,s tarde worries weigh on investors


European stocks fell Wednesday, tracking losses across global markets as oil prices fell and investors were filled with fresh uncertainty over a potential trade deal between the U.S. and China.

How are markets performing?

The Stoxx 600

SXXP, -0.48%

 fell 0.5% to 378.74, after a 0.9% gain on Tuesday.

In Germany, the DAX

DAX, -0.42%

 fell 0.6% to 12,086.16, after a 1.3% climb Tuesday.

The U.K.’s FTSE 100

UKX, -0.75%

 dropped 0.7% to 7,340, on the heels of a 0.5% gain.

Elsewhere, France’s CAC 40

PX1, -0.67%

 fell 0.7%, nearly reversing a 0.8% gain Tuesday, while Italy’s FTSE MIB

I945, -0.59%

 dropped 0.7%, from a 0.9% gain the prior session.

The pound

GBPUSD, +0.1100%

  was flat at $1.2737, while the euro

EURUSD, -0.0883%

  slipped 0.1% to $1.132.

What’s moving the markets?

Renewed concerns over a U.S.-China trade deal damped enthusiasm for global equities after the Dow Jones Industrial Average

DJIA, -0.05%

 broke a 6-session winning streak. Trade-deal optimism had been building ahead of a Group of 20 meeting at the end of the month, but U.S. President Donald Trump admitted Tuesday he was “holding up” a deal between the countries.

Oil was the biggest losing sector in Europe, as heavily weighed companies tracked sharp falls in U.S.

CLQ19, -2.71%

 and Brent crude prices

BRNQ19, -2.49%

BRNQ19, -2.49%

 , down over 2% each. That was after a report showing higher U.S. inventories and ahead of a key government report on supplies data due later. Total SA

FP, -1.79%

 fell nearly 2%, while BP PLC

BP, +0.62%

BP, -2.91%


As well, investors were watching unrest in Hong Kong where thousands of protesters surrounded government headquarters on Wednesday, forcing the delay of a legislative session to vote on a bill that would allow criminal suspects in Hong Kong to be sent for trial in mainland China. Police opened up with tear gas and water cannons to try to disperse those protesters, and Hong Kong stocks

HSI, -1.73%

 tumbled amid the unrest.

Which stocks are active?

Axel Springer

SPR, +11.65%

surged 11%, making for a top gainer in the Stoxx Europe 600 index, after private equity group KKR

KKR, +0.33%

 announced a $7.7 billion takeover offer for the German media group.

Dassault Systemes SA

DSY, -1.91%

 shares fell 1.6% after announcing a deal to buy U.S. health care software group Medidata Solutions Inc.

MDSO, +4.36%

in a $5.8 billion deal.

Shares of Spanish retail group Inditex SA

ITX, -1.42%

 fell 1% after posting a better-than-expected net profit rise, but sales that came in below expectations.

Banks were also under pressure across the board, with HSBC Holdings PLC

HSBA, -1.10%

HSBA, -1.10%

 dropping 1% and Banco Santander SA

SAN, +0.45%

SAN, +0.12%

fell 1%.

Source : MTV