European Shares Mixed As Trade Worries Weigh
(RTTNews) - European stocks were mixed in cautious trade on Monday after U.S. President Donald Trump downplayed the scheduled September meeting with China and Italy's ruling League party said it would present a no confidence motion in the Senate to bring down the government.
On the positive side, China's central bank set the official midpoint reference for the yuan at a stronger-than-expected level. Italian bond yields fell from five-week highs as Fitch Ratings left the country's rating unchanged.
The pan-European Stoxx 600 was up 0.1 percent at 371.79 after declining 0.8 percent on Friday. The German DAX was rising 0.2 percent, while France's CAC 40 index was down 0.1 percent and the U.K.'s FTSE 100 was losing 0.3 percent.
Osram shares soared 9.4 percent after Apple supplier AMS made an all-cash takeover offer for the German lighting group. AMS shares plunged 7.5 percent.
Steel producer Salzgitter Group tumbled 3.1 percent as it slipped to a loss in the second quarter compared to net income of 68.4 million euros in the prior year.
Miner Anglo American fell as much as 2.3 percent while Antofagasta, BHP and Glencore were modestly lower after U.S. President Donald Trump said the U.S. is not ready to do business with Huawei.
Asia-focused lender HSBC Holdings dropped 1.4 percent and Standard Chartered declined 1.6 percent on worries about Hong Kong protests.
Shares of Rolls-Royce tumbled 2.7 percent on reports that engine parts from a Norwegian Boeing 787 Dreamliner fell shortly after take-off from Rome Fiumicino.
Thomas Cook shares plunged almost 15 percent after the struggling travel company admitted that its increased capital raising plan will dilute existing shareholders' stakes.
Shares of M&C Saatchi Plc plummeted 22 percent. The marketing services business said it continues to expect year-on-year decline in first-half profit before tax as prior year's first half was unusually strong.
Tullow Oil soared 15 percent on news that it has made a "potentially transformational" oil discovery in Guyana.
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