Switch to cash-in mode weakens stocks in Europe

Wednesday, 16. November 2016 17:59

The euro slightly declined and equities in main stock markets in Europe settled in the red on Wednesday while traders were reminiscing about the rally from the past week and looked for clues about growth policy after the election of Donald Trump as the next president of the United States. Healthcare and telecommunications held stronger, keeping the overall decline moderate.

The FTSE 100 lost 0.63%, with Burberry Group slumping 2.6% and Barratt losing 2.91%. The next constituent in the bottom of the performance list was Wolseley, down 2.47%%. The CAC 40 came down 0.78% in the session, where LafargeHolcim tumbled 3.06%, only slightly outperforming Schneider Electric and Airbus. The DAX moved 0.66% to negative territory, mostly dragged down by Bayer and Lufthansa's losses of 4.19% and 4.17%, respectively. HeidelbergCement was another industrial giant suffering a blow today, closing 3.95% lower.

The joint currency of 19 nations was down 0.27% against the dollar and weakened 0.2% compared to the pound at 5:49 p.m. CET. 

Image: EPA / Facundo Arrizabalaga

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