Europe closes in red amid trade concerns

Monday, 09. December 2019 17:30

European stocks closed lower on Monday as investors focused on trade developments.

French Finance Minister Bruno Le Maire warned on Sunday that Paris would file a complaint against Washington with the World Trade Organization if it goes ahead with threats to target $24 billion worth of French products with tariffs of up to 100%.

Meanwhile, according to a Sentix report, investor sentiment in the euro area increased on a monthly basis in December as the investor confidence index reached 0.7 points. Also, according to data released by Destatis, Germany's seasonally adjusted foreign trade surplus stood at €20.6 billion in October, increasing from September's figure of €19.2 billion.

The DAX closed with losses of 0.46% driven by Adidas AG’s decrease of 1.90%. The CAC 40 traded in the red as well, slipping 0.49% at the closing bell with Peugeot SA stocks falling 1.91%. At the same time, the FTSE 100 lost 0.08% as the session ended with Phoenix Group Holdings declining 3.66%.

The euro traded higher against the dollar, rising 0.10% at 5:32 CET to go for 1.10720.

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Breaking the News / TF