Europe starts lower to wrap up the year

Tuesday, 31. December 2019 09:02

Stock markets in Europe were off to a lower start on Tuesday, the last trading day of the year, as the so-called Santa rally wound down and investors awaited the final resolution to the US-China trade spat.

White House trade advisor Peter Navarro yesterday indicated that phase one deal could be signed this week, underpinning reports about the Chinese delegation getting ready to travel to the US.

The CAC 40 lost 0.19% as the session kicked off. Essilorluxottica led the losses, slipping 0.48% at 9:01 am ET on the back of yesterday's news that the company had discovered fraudulent activities at one of its Thailand plants which might incur the damage of up to $190 million for the eyewear maker. The FTSE 100 traded 0.03% below the flat line at the opening bell, with Nmc Health as the worst performer, down 1.38% at 9:02 am ET.

Deutsche Boerse is closed for the day.

The British pound gained 0.20% on the US dollar, going for 1,31294 at 9:02 am ET.

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Breaking the News / GG