European shares were lower Tuesday, as investors took profits amid disappointment from a lack of progress on Brexit talks and the US tax reform bill. Even upbeat euro zone data wasn’t enough to buoy investor sentiment.
By 1250 BST, the EUROSTOXX 600 was trading 0.32% lower, while the EURSTOXX 50 was similarly 0.29% in the red. The German DAX, was off 0.32%, the French CAC was 0.43% lower and the Spanish IBEX was marginally in the green, up 0.14%.
Politics lead sentiment
After apparent progress being made on the Brexit, Irish border issue Monday, Northern Irish party, the DUP, made it clear they wouldn’t support a deal that treated Northern Ireland differently from the UK. Talks are once again, ongoing.
In the meantime, excitement following the senate passage of the latest version of the US tax reform bill, also dissipated.
Indeed, with disappointment on those two fronts, even solid euro zone data wasn’t enough to buoy investors earlier Tuesday.
Data experts IHS Markit’s final euro zone composite PMI, confirmed private sector business output was strong in November, with the PMI rising to 57.5 in November, up from 56.0 a month earlier.
“The eurozone enjoyed a bumper November, setting the scene for a buoyant end to the year,” said Chris Williamson, IHS Markit’s chief economist.
“The PMI surveys signalled faster growth across the board, led by stronger expansions in France and Germany alongside a marked upturn in the pace of growth in Italy,” he added.
Stock movement details
Amid that news flow, some individual stocks lost out, while, as always, others impressed.
- Friends Provident -11.93% to £775.00.
- Anglo American -1.19% to £1,368.50.
- Deutsche Bank -0.37% to €16.08.
- BNP Paribas -0.92% to €63.47.
Among the gainers, were:
- Danone +0.85% at €70.20.
- Enel +0.82% to €5.52.
- Tesco +4.20 at £203.45.