On Friday, a slew of European stock exchanges had wrapped up the day with little changes despite a hit on Asia-exposed financials alongside luxury stocks over an escalating Sino-US tension, while investors remained Panglossian over a quicker global economic recovery which in effect had aided a gauge of European stock indices to score weekly gains.
Aside from that, although Friday’s European market had ended up flatlined, but the session had witnessed multiple swings into the reds and the greens, as the US President Donald Trump’s threatening on China over its planned National Security Law targeted at Hong Kong’s pro-democracy protests appeared to have taken a heavy toll on investors’ mind.
In point of fact, Friday’s European market had been an utter reflection of an unprecedent halt in global equity indices over the recent past, as risk-appetite seems to be melting down in line with a revival of tension between the world’s first- and second-largest economies with Trump accusing Beijing of mishandling the pandemic outbreak data.
European stock indices stall amid US-China tension
Citing statistics, on Friday’s European market wrap-up, the stock exchanges finished mixed with Frankfurt’s DAX winding down the day almost dithered to 11,073.87, while London’s FTSE 100 and French CAC 40 had ended down the 0.37 per cent and 0.02 per cent lower respectively.
Elsewhere in the Europe, while the regional pan-European STOXX 600 had finished the day flatlined to 340.17, Madrid’s benchmark IBEX 35 gained 0.17 per cent to 6,697.50 and Italy’s FTSE MIB surged 1.34 per cent to 17,316.29.
Meanwhile, referring to a pessimistic market outlook that emerged later last week followed by a rise in tension between Washington and Beijing amid a ‘pandemic blame-game,’ a managing director at Bannockburn Global Forex, Marc Chandler said on Friday’s European market round off, “The U.S.
has ratcheted up pressure on China on several fronts and has sapped risk appetite ahead of the weekend. ”