European shares break off three-day-long losing streak, worries linger

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European shares break off three-day-long losing streak, worries linger

On Wednesday, the 7th of August 2019, a majority of European bourses had concluded the day with modest gains, putting an end to a three-day-long trade-spat driven losing streak, while euphoria over a multi-billion-euro German chemical deal helped European bourses open mostly higher, but gains were capped shortly after Wall St.

had opened broadly lower over concerns of a telescoped global economy. Apart from that, the regional Pan-European STOXX 600 wrapped the day up 0.2 percent higher after rising as much as 1 per cent during morning European trading hours, when Bayer AG and Lanxess’ deal to sell Currenta for $3.9 billion had been lifting European stocks.

On top of that, Bayer AG climbed 6 percent on Wednesday (August 7th), as a Currenta divestment deal would proffer the German bioscience giant a breathing space amid a stockpile of debt that came along with its purchase of US-based Monsanto.

Adding that a worrisome opening of Wall St. had weighed on Wednesday’s (August 7th) market sentiment, a Spreadex analyst, Connor Campbell said, “With such a bad U.S. open and with the dominant story in the last few days being about U.S.-China trade war, the European markets have been looking at the U.S.

for clues”. Quoting statistics, on Wednesday’s (August 7th) market wind down, London’s FTSE 100 added 0.38 percent to 7,198.70, Frankfurt’s DAX surged 0.71 percent to 11,650.15, while Paris’s CAC 40 ended the day flatlined at 5,266.51.

Elsewhere in Europe, Madrid’s IBEX 35 soared 0.54 percent to 8,746.10, while Italy’s FTSE MIB shrugged off 0.45 percent to 20,538.85 on Wednesday’s (August 7th) market closure after rising as much as 0.53 percent during midday European trading hours.