European shares are a little mixed Wednesday, as investors look towards upcoming US-China trade talks and news that the latest round of fresh tariffs were less punitive than had been expected. Some company news updates, however, are weighing on sentiment.
By 1215 BST, the EUROSTOXX 600 was 0.01% higher, while the EUROSTOXX 50 edged down 0.17%. Regional bourses were also mixed. The German DAX rose 0.11%, the French CAC was 0.19% in the green, while the Spanish IBEX fell 0.19%.
US-China trade disagreement remains in focus
Traders remain focused on the US-China trade disagreement. However, right now there is some optimism as the two countries are currently set to meet again to discuss tariffs and trade.
In addition, the latest round of newly announced import tariffs were lower than had been initially anticipated.
Some analysts expect the negotiations between the two countries to continue for some months. According to Credit Suisse, they’re assuming another 6-9 months of talks.
While some investor focus remains firmly on the still developing and uncertain US-China trade issues, other, company specific news was also at work Wednesday.
Danske Bank shares fell 5.60% to DKK165.05 as its CEO, Thomas Borgen, announced his resignation from the bank, following the conclusion of an investigation into Money Laundering at its Estonian branch between 2007-15. Borgen said it was the right thing to do and that he will remain in pace until a suitable replacement is found.
Bayer shares, meanwhile, are higher as its recently purchased Monsanto unit, has lodged papers with a Californian court, requesting it overturn the initial Roundup weed killer verdict, where it was ordered to pay the plaintiff Dewayne Johnson, $239 billion in compensation and damages.
Bayer said the evidence suggesting glyphosate, which is one of the main ingredients of its Roundup and Ranger pro weed killers, is carcinogenic, aren’t strong enough.
Bayer shares rose 0.74% to €73.84.