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European Shares Retreat Ahead Of Central Bank Meetings


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(RTTNews.com) - European stocks retreated from a six-week high on Monday, as weak metal prices on concerns over slowing growth in China pulled down miners and investors adopted a cautious stance ahead of key central bank meetings in the U.S., Japan and the U.K. this week.

The Bank of Japan began its two-day policy meeting today, with analysts expecting the central bank to discuss reducing investments in ETFs tracking the Nikkei 225 index.

The Federal Open Market Committee is widely expected to leave interest rates unchanged when it meets on Tuesday and Wednesday.

The Bank of England is set to increase U.K. interest rates by 25 basis points Thursday but cautious comments from Governor Mark Carney may hurt the pound.

In economic releases, a gauge of Eurozone economic sentiment fell slightly in July due to increased trade tensions between the U.S. and the European Union.

The pan-European Stoxx Europe 600 index was down 0.3 percent at 391.11 in late opening deals after rising 0.4 percent on Friday.

The German DAX was declining 0.2 percent, France's CAC 40 index was down 0.4 percent and the U.K.'s FTSE 100 was losing 0.3 percent.

Heineken NV shares tumbled 4 percent. The brewer cuts its full-year margin guidance amid an expansion into Brazil.

Miners Anglo American, Antofagasta and Glencore fell between 0.8 percent and 1.4 percent.

Indivior rose 1.5 percent after a U.S. Court expedited a generic rival's appeal against a preliminary injunction blocking the sale of a copycat version of the drugmaker's blockbuster opioid addiction treatment.

Betting group GVC Holdings jumped almost 5 percent after it entered into a joint venture with U.S. hotel and casino operator MGM Resorts to set up a sports and online gaming platform in the U.S.

France'sAir Liquide dropped 2.7 percent after its first-half operating income disappointed investors.

German industrial machinery group GEA soared 6.8 percent after its Q2 earnings topped forecasts.

Deutsche Bank gained 1.6 percent on news it is moving a large part of its euro clearing facility from London to Frankfurt.


Read the original article on RTTNews (http://www.rttnews.com/2919729/european-shares-retreat-ahead-of-central-bank-meetings.aspx)


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