On Monday, the 11th of November 2019, a basket of European bourses had opened the market in a much-downbeat note after pulling off of a five-day-long winning streak a session earlier on a renewed threat backlashing investors’ hope of a Sino-US trade deal alongside a fresh escalation of violent protests in Hong Kong, nonetheless, a majority of European stock exchanges had recovered from early losses at post-midday trading hours, as European investors appeared to have digested a swath of issues slumping market sentiment ranging from Hong Kong protests to weak China factory data to an inconclusive election in Spain.
Meanwhile, citing UK’s resilience on consumer spending a marvel ahead of a December 12th general election, an ING analyst wrote in a client note, “While the UK is being kept out of recession by surprisingly resilient consumer spending, the outlook for investment continues to look challenging as we move into 2020.
” Quoting statistics, after losing nearly 0.5 per cent at late-morning trade, the regional pan-European STOXX manged to curtain off the day flatlined, buoyed up by a sharp turnaround of defensives such as lenders and healthcare, which were often counted as safer bets in times of an en masse uncertainty on geo-political events alongside a global economy which kept contracting.
On Monday’s (November 12th) market closure, Frankfurt’s trade-sensitive DAX had wrapped up the day 0.20 per cent higher to 13207.14, French CAC 40 closed the day 0.40 per cent higher to 5,898.95, while London’s FTSE 100 led the losses among the major bourses as its regional index had witnessed a drop of 0.4 percent to 7,328.54.
Elsewhere in the Europe, Madrid’s IBEX 35 ended up the day 0.20 per cent higher to 9,386.90, while Italy’s MIB FTSE rounded off the day 0.21 per cent higher to 23,491.68.