ZCZC
BCN-13
MARKETS-EUROPE-OPEN
European stock markets attempt rebound at open
LONDON, June 26, 2018 (BSS/AFP) – Europe’s main stock markets rebounded
somewhat in opening deals on Tuesday, having dived by about two percent the
previous day on worries over a global trade war.
In initial deals, London’s benchmark FTSE 100 index of major blue-chip
companies gained 0.3 percent to 7,532.49 points compared with Monday’s
closing level.
In the eurozone, Frankfurt’s DAX 30 added 0.7 percent to 12,355.66, while
the Paris CAC 40 won 0.5 percent to 5,308.88 points.
World stocks had plummeted Monday on reports that US President Donald
Trump was planning new curbs on Chinese investment in America.
Asian stocks banked sharply lower on Tuesday following steep falls on Wall
Street, amid fear that Washington was readying a new phase in its economic
confrontation with China.
Trump has threatened to strike back against China’s retaliation to the US
tariffs that are due to take effect July 6.
“Equities had a bearish day yesterday (Monday) as Trump’s agenda of
protectionist measures is threatening US and global growth,” noted
Konstantinos Anthis, research head at trading firm ADS Securities.
“Economists from around the world are expressing their concerns that a
global trade war could send the US back to a recession and investors are
taking a defensive approach as a response.”
BSS/AFP/MR/ 1344 hrs