European stocks open lower as weak China data caps trade gains; Brexit in focus
Monday, 14 October 2019 14:29 WIB | MARKET UPDATE |SahamEropaIndeks Stoxx Europe 600Stoxx 600
European stocks fell Monday morning with weak data out of China looking set to slow Friday's surge on the back of a partial trade accord between Washington and Beijing.
The pan-European Stoxx 600 slipped 0.7% at the start of the session, with basic resources stocks shedding 1.5% to lead losses as all sectors and major bourses traded in negative territory.
The U.S. agreed to postpone an increase in tariffs from 25% to 30% on at least $250 billion of Chinese goods, which had been scheduled for Tuesday. President Donald Trump said that the first phase of a trade deal will be drawn up within the next three weeks, and will see China purchasing between $40 billion and $50 billion of U.S. agricultural products.
Back in Europe, investors will be monitoring a big week for Brexit. The Queen's Speech, Britain's official state opening of Parliament, is scheduled for noon London time on Monday and will set out the U.K. government™s plans under Prime Minister Boris Johnson.
Source : CNBC
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