• Home 1
  • Privacy Policy
LSD News
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
LSD News
No Result
View All Result
Home Stock

China jitters, earnings drag Europe’s STOXX 600 down 2% to three-month low

by
November 12, 2024
in Stock
0
China jitters, earnings drag Europe’s STOXX 600 down 2% to three-month low
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



Europe‘s main index plunged 2% to a near three-month low on Tuesday, as concerns over the fate of U.S.-China relations cast a shadow over stocks with significant exposure to the world’s No. 2 economy, while some downbeat earnings also weighed.

The STOXX 600 also notched its steepest one-day decline since early August after Monday’s 1% jump.

European equities have been under stress as investors assessed the likelihood of tariff increases after Trump‘s sweeping U.S. presidential victory last week.

China-related assets struggled globally as Trump is expected to tap U.S. Senator Marco Rubio to be his secretary of state, who has in past years advocated for a muscular foreign policy with respect to America’s geopolitical foes, including China.

“As he’s forming his teams and the names are coming through, the market is having a realization of what could be coming,” said Fiona Cincotta, senior market analyst at City Index.

“China’s economic position is quite fragile and if you’re having huge tariffs being placed on China when it’s already weak, that’s going to impact its imports and that will naturally affect Europe.” Basic resources slumped 3.7% as most metal prices fell, with Polish miner KGHM dropping 9.2% and one of the worst-hit on the STOXX 600. Personal and household goods, which houses heavyweight China-exposed luxury firms, dropped 2.4%. The broader luxury index was also down nearly 4%.

However, the technology sector was largely flat in the face of deep sectoral losses, driven by a 4% jump in Temenos following the Swiss banking-software company’s strategic plan to accelerate growth over four years.

Among earnings-driven losses, German group Bayer slumped 14.5% after warning weak agricultural markets could dent its earnings further next year.

Brenntag eased 5% after the German chemicals distributor reported a third-quarter core profit miss, dragging the chemicals sector 3% lower.

Italy’s Mediobanca dropped 8.2% after cutting its full-year net interest income forecast.

UK’s Convatec Group jumped 22% after the medical products and technologies firm raised its FY24 organic sales growth forecast.

Infineon reversed course to rise 4% after falling initially, as the German chipmaker forecast lower 2025 revenue due to weak demand in its end markets aside from AI.

Meanwhile, German inflation rose to 2.4% in October, confirming preliminary reading, with investor morale clouded this month amid Trump’s win and collapse of the Berlin government.

A U.S. inflation reading and minutes from the European Central Bank’s last policy meeting are due later in the week.

Tags: ChinaDragearningseuropeEuropesjittersMarketsstocksSTOXXthreemonthTrumpUS
Previous Post

Here is why Costco recalled almost 80,000 pounds of butter

Next Post

Hedge funds performed better under Democratic presidents than Republican ones, history shows

Next Post
Hedge funds performed better under Democratic presidents than Republican ones, history shows

Hedge funds performed better under Democratic presidents than Republican ones, history shows

Stay Connected test

  • 139 Followers
  • 205k Subscribers
  • 23.9k Followers
  • 99 Subscribers
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Hawaii officials work to address mental health challenges facing wildfire survivors

Hawaii officials work to address mental health challenges facing wildfire survivors

August 17, 2023
Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

August 10, 2023
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

July 16, 2023
Working-age Americans are struggling to pay for health care, even those with insurance, report finds

Working-age Americans are struggling to pay for health care, even those with insurance, report finds

October 28, 2023
Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

5
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

5
Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

3
Georgia realtor receives invitation to play the Masters by mistake | CNN

Georgia realtor receives invitation to play the Masters by mistake | CNN

1
Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

July 11, 2025
ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

July 11, 2025
Bitcoin flies to new all-time highs, topping 8,000 as institutions pile into ETFs

Bitcoin flies to new all-time highs, topping $118,000 as institutions pile into ETFs

July 11, 2025
Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time

Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time

July 11, 2025

Recent News

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

July 11, 2025
ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

July 11, 2025
Bitcoin flies to new all-time highs, topping 8,000 as institutions pile into ETFs

Bitcoin flies to new all-time highs, topping $118,000 as institutions pile into ETFs

July 11, 2025
Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time

Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time

July 11, 2025

We bring the latest news from all over the world and get all time updated you

Follow Us

Browse by Category

  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
  • Uncategorized

Recent News

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

July 11, 2025
ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

ET Market Watch: TCS earnings, Sebi crackdown among 4 reasons why markets tanked | The Economic Times Podcast

July 11, 2025
No Result
View All Result
  • Home 1
  • Privacy Policy

© 2024 LSD News title="Jegtheme">Jegtheme.