Europe ends lower after China's tariffs announcement

Monday, 13. May 2019 17:31

European markets ended Monday's trading session with losses after the government in Beijing announced it would retaliate against the United States tariffs targeting Chinese imports. Last week, the US decided to increase the existing tariffs on $200 billion worth of Chinese goods from 10% to 25%. China stressed the retaliatory measures will take effect on June 1.

The FTSE 100 closed 0.47% in the negative territory with ITV Plc closing 5.99% lower. The DAX fell 1.47% at the closing bell. The worst performer was Thyssenkrupp AG, sinking 8.44%. The CAC 400 was 1.18% in the red at market close, led by Arcelormittal SA losses of 5.48%.

Meanwhile, the euro was flat against the dollar, selling for 1.1233 at 5:32 pm CET.

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Breaking the News / SS