European Stocks Close On Weak Note

(RTTNews) - European stocks ended lower after moving in a tight range amid thin holiday trades on Tuesday.

Among the major markets, Germany and Switzerland remained shut for New Year's Eve holiday. France and the U.K. closed early.

Markets across Europe will remain closed on Wednesday for New Year's Day holiday.

The pan European Stoxx 600 edged down 0.08%. The U.K.'s FTSE 100 declined 0.59%, while France's CAC 40 ended down 0.07%.

In the U.K. market, Micro Focus declined 3%, NMC Health ended lower by about 2.7%. Pearson, J Sainsbury, Standard Life, United Utilities, Rightmove, Legal & General and BP lost 1.4 to 2.3%.

In the French market, STMicroElectronics, Capgemini, Peugeot, Carrefour, Pernod Ricard, Renault and Publicis Groupe ended notably lower.

On the other hand, Michelin, Essilor Luxottica, Safran, Airbus Group, L'Oreal and Bouygues ended modestly higher.

In economic news, Turkey's trade deficit increased sharply in November, driven by higher imports, data from the Turkish Statistical Institute showed on Tuesday.

The trade deficit widened to $2.23 billion from $672 million a year ago, the report said.

The statistical office said exports coverage imports was 87.4%, while it was 95.8% in November 2018.

On a monthly basis, exports and imports grew 1% and 3.4%, respectively. Year-on-year, calendar adjusted exports logged a marginal growth of 1%, and imports surged 12.7%.

On the Brexit front, Phil Hogan, the EU trade commissioner has reportedly said Boris Johnson will be forced to U-turn on his refusal to extend the post-Brexit transition period beyond the end of 2020, and branded it a "stunt".

U.S. stocks were edging lower on Tuesday with investors not showing any interest in building up positions ahead of the upcoming holiday. A lack of fresh triggers too contributed to the weakness in the market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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