November 20, 2019 / 8:38 AM / 17 days ago

U.S.-China trade friction sends European shares lower

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Nov 20 (Reuters) - European shares lost further ground on Wednesday, with trade-sensitive sectors taking a hit after U.S. President Donald Trump threatened to raise U.S. tariffs on Chinese goods if a deal could not be reached with Beijing.

Trade-reliant shares of Germany and France dropped about 0.7% by 0819 GMT, leading declines among major regional indexes, while the broader European STOXX 600 index fell 0.5%.

Trump’s latest threat raised fears of an impasse in the U.S.-China trade negotiations, driving Europe’s stocks benchmark lower for a third straight session and farther from a four-year peak.

British home improvement retailer Kingfisher’s shares tumbled 7.7% to the bottom of STOXX 600 after it reported a worsening fall in underlying sales in the third quarter.

Another big decliner was German payments company Wirecard , which fell 5.6% on news auditor EY refused to sign off on the Singapore audit of the company for 2017, citing irregularities. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below