European Shares Slip Ahead Of Trump's UN Speech
(RTTNews) - European stocks were mixed on Tuesday after rising notably the previous day amid easing inflation concerns and hopes of a resumption in U.S.-Iran negotiations.
Heightened geopolitical risks weighed on markets as U.S. President Donald Trump addresses the U.N. General Assembly at a tumultuous moment for the world.
The pan-European STOXX 600 slipped 0.3 percent to 640.19 after rallying 1 percent in the previous session.
The German DAX dropped half a percent and France's CAC 40 shed 0.3 percent while the U.K.'s FTSE 100 was up 0.2 percent, driven by a weaker pound after official data showed U.K. government borrowing rose more than expected in August.
In corporate news, shares of Evonik Industries jumped more than 3 percent. The German chemicals company has decided to slash 3,200 jobs worldwide to reduce costs and improve operating performance.
Sampo fell about 1 percent. The property and casualty insurance group with operations in the Nordics, Baltics and the U.K., reduced its stake in specialist lender Noba Bank Group to 10.01 percent.
Swedish construction company Skanska surged 4 percent after it signed a contract with an existing client to begin work on a data center in Georgia.
Swiss drugmaker Roche declined 1 percent despite announcing positive topline results from a Phase II clinical trial in adults living with type 2 diabetes.
Home improvement retailer Kingfisher soared 9 percent in London after reporting strong first-half results and raising its full-year profit guidance.
Gold Edges Lower On Rate Hike Fears
Oil Prices Edge Lower In Volatile Trade
Yen Slides Against Majors
Asian Shares Inch Higher In Cautious Trade
NZ Dollar Rises Amid Risk-On Mood
Yen Falls Against Majors
NZ Dollar Rises Against Majors
