PARIS / LONDON (dpa-AFX) – European stock exchanges returned to normal after the strong weekend. On Friday, positive signals in the US-China-Brexit trade dispute brought significant gains, but came to the start of the week after worrying news from China, further doubts about the rapid progress. Investors made profits on Monday.
EuroStoxx 50 (EURO STOXX 50) as the main index of the eurozone fell 0.38 percent to 3556.26 points after falling more than 1 percent in the meantime. The French CAC 40 lost 0.40% to 5643.08 points, and in the UK the FTSE 100 lost 0.46% to 721.45 points.
China wants to hold further talks before signing the so-called "first phase" of the trade deal, Bloomberg news agency learned from people familiar with the matter. Details still need to be worked out in late October before President Xi Jinping can sign the deal announced by Trump on Friday.
Investors have now realized that there is still nothing to be excited about what has been achieved so far between the US and China, wrote market analyst Neil Wilson of trading Markets.com. And even Brexit's lack of progress helps markets little.
On the corporate side, almost every sector in Europe saw losses, with the commodity sector paying its biggest mark on Friday's gains with a nearly 2.5 percent discount. Also clearly weakened to less than 1%, insurers and oiland gas companies suffering from the sharp drop in oil prices.
At the end of EuroStoxx, BBVA shares fell more than 1.7% in a slightly darker environment. Shares in British bank HSBC, on the other hand, resisted the general weakness of the sector and closed only slightly below. For just over a week, speculation circulates that the bank has a radical Downsizing plans. More recently, the Sunday Times reported that jobs already circulating up to 10,000 jobs in the US and Europe should disappear. He would receive it in terms of bank profitability if the report proves to be true, wrote Goldman Sachs analyst Martin Leitgeb.
The biggest bullfights of the day took a back seat in London: the planned acquisition of Sophos (Sophos Group) by financial investor Thomas Bravo increased the security software company's shares by 38%. For a while, the newspaper was still trading above Bravo's 583 pence per share. At $ 7.40 per share in cash, Sophos is valued at $ 3.8 billion, making the acquisition the UK's largest technology acquisition this year.
In Zurich, the newspapers of the telecommunications company Sunrise (Sunrise Communications) appeared after an irregular start on the spot. It was previously known that Sunrise now also receives support from UPC owner Liberty Global (Liberty Global A) for the planned acquisition of the cable operator. Liberty wants to support Sunrise's capital increase of up to SFr500 million (about EUR 454 million). Liberty Global shares recently gained ground in New York./la/fba