Frankfurt hurt by Bayer, Lufthansa, Milan & Madrid wobble deeper in to reds



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Frankfurt hurt by Bayer, Lufthansa, Milan & Madrid wobble deeper in to reds

On Tuesday, the 30th of July 2019, a majority of European bourses had winded down the day deep in the reds, as investors’ appetite for riskier assets took a header ahead of a high-stake Federal Reserve policy decision on Wednesday (July 31st), meanwhile a dampening forecasts of German giant Bayer AG alongside Lufthansa soured investors’ sentiment.

Aside from that, another day of heavy battering for pound sterling, which slipped 0.55 percent further to 1.2151 on Tuesday (July 30th) after posting its largest intra-day loss of 1.31 percent in more than nine months, had eased some losses of London’s FTSE 100, which posted a plunge of 0.52 percent to round off the day at 7,646.77 amid circulating cynicism over a likely no-deal Brexit.

In point of fact, after Bayer AG had posted a plunge of 3 percent after commenting that the company might not be able to reach its yearly target amid a ravaging US storms and trade warfare, alongside German Airline Lufthansa shed more than 5.6 percent following a miss of its quarterly earnings’ estimate for Q2, 2019, Frankfurt’s DAX dwindled 2.18 percent to 12,147.24, remarking its largest intra-day loss since February 7th, 2019.

Elsewhere in Europe, French CAC 40 closed Tuesday’s (July 30th) market flatlined to 5,511.07, while Italy’s MIB FTSE was tottered 1.99 percent to 21,278.24 and Madrid’s IBEX 35 took a nosedive of 2.48 percent to 8,986.60 on Tuesday’s market wind down, while accusing a flurry of downbeat data behind Tuesday’s (July 30th) tottering, a market economist at Capital Economics, Simona Gambarini said, “Most markets are down this morning.

The S&P closed lower yesterday. We have a few data releases regarding the eurozone that could push equity prices down but I think everyone is waiting for the Fed meeting. ”