European shares give up gains as clashing Brexit headlines weigh on

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European shares give up gains as clashing Brexit headlines weigh on

On Wednesday, the 16th of October 2019, a fistful of European shares were pulled off of their multi-month highs, as a series of befuddling headlines on Brexit ahead of an October 31st deadline had downsized risk-appetite of European investors.

In point of fact, yesterday’s (October 15th) European bourses had experienced an abrupt breakthrough that bolted out of the blue following reveal of a Bloomberg report that UK PM Johnson’s Brexit proposal had been getting closer to a ratification, however the deal would still require to pass through the UK House of Common.

Meanwhile, adding that the European investors had been following the directions of a flagship Brexit wind, a global head of equity derivatives strategy at BNP Paribas, Edmund Shing said, “It’s all about which way the Brexit wind is blowing.

We’d see a lot of more interest in domestic cyclical names (if there was a deal). ” Quoting statistics, on Wednesday’s (October 16th) market wind down, London’s FTSE 100 shed 0.61 per cent to 7,167.95, French CAC 40 index ended the day a penny down to 5,696.90, while Frankfurt’s DAX added 0.32 per cent to 12,670.11 on Wednesday’s (October 16th) market wind down.

Elsewhere in Europe, Italy’s FTSE MIB added 0.28 per cent to 22,478.09, while Madrid’s IBEX 35 index rose 0.33 per cent to 9,386.70 on Wednesday’s (October 16th) market round off.