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7/18, 5:31 PM (Source: TeleTrader)
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Europe closes lower amid trade concerns

European stocks closed in the red on Thursday amid growing trade concerns after United States President Donald Trump said the European Union was "tougher" than China when it comes to trade talks. Investors also digested corporate earnings and the latest Brexit developments as the United Kingdom lawmakers voted in favor of an amendment which would prevent the next prime minister from forcing a no-deal Brexit by proroguing Parliament.

The FTSE 100 fell 0.56% with Fresnillo plummeting 9.12%.

The DAX slid 0.92%. SAP pulled the index down as its shares plunged 5.61% after the company posted worse-than-expected quarterly results.

The CAC 40 declined 0.38%. ArcelorMittal, down 2.6%, was the worst performer.

The pound rose 0.44% against the dollar to sell for 1.2489 at 5:36 pm CET, while the euro traded flat compared to the greenback, going for 1.1228 at 5:37 pm CET.

Breaking the News / NP