European shares stall four-day rally on Unilever warning, hard Brexit fears

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European shares stall four-day rally on Unilever warning, hard Brexit fears

On Tuesday, the 17th of December 2019, a slew of European stock indices had snapped their four-day long rally stemmed off a decisive UK exit poll results alongside announcement of a Sino-US interim trade deal, however Tuesday’s European market had witnessed a wobbling trickle following a sales warning from consumer goods conglomerate Unilever, while a reignited fear of a hard-Brexit had added further strains on to investors’ optimism.

In point of fact, following reveal of media headline that the UK PM Boris Johnson, who had secured a controlling majority of 80 seats in the UK House of Commons on December 12th General Election, was set to use his control of parliament to reject any extension of Brexit shift beyond 2020, European stock indices began to witness a withering backdrop while Europe’s regional pan-European STOXX 600 was dragged 0.7 per cent down from a record closing high reached yesterday (December 17th).

Meanwhile, addressing to a tense air whirling over the European bourses, a markets’ economist at Capital Economics in London, Simona Gambarini said on Tuesday’s (December 17th) European market wrap-up, “Given the short amount of time that Johnson has to agree a deal, investors are probably worried that a no-deal Brexit is not off the table.

” Citing statistics, on Tuesday’s market closure, London’s FTSE 100 wrapped up almost flatlined at 7,525.28, Frankfurt’s DAX 30 dwindled 0.89 per cent to 13,287.83, while French CAC 40 winded up the day down by 0.39 per cent to 5,968.26.

Elsewhere in the Europe, Madrid’s benchmark IBEX 35 index shed 0.67 per cent to 9.615.90, while Italy’s MIB FTSE surged 0.45 per cent to 23,630.77.