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8/13, 9:03 AM (Source: TeleTrader)
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Stocks in EU pull back at opening bell

Continued tensions in Hong Kong spurred concern over the possibility of China's intervention and equities in major European exchanges started in negative territory on Tuesday, though losses were modest compared to the slump on Wall Street and in Asia-Pacific. Domestic companies are suffering amid an economic slowdown, mostly the recession in manufacturing. Furthermore, deflationary forces and record low interest rates and bond yields are distorting business models and destroying profitability.

Gold jumped 0.74% to $1,522.59 per ounce. The session high, at $1,524.75, was the strongest since April 2013. Silver surged 1.97% to $17.4 for one troy ounce after climbing two cents more to a level last seen in January of last year. The euro retreated 0.2% to $1.11911 and traded flat at £0.92852. The pound was 0.18% lower at 1.20546.

The FTSE 100 slipped 0.22%. Croda was the worst constituent, 2.42% in the hole. The German DAX moved 0.33% to the red, led by Henkel's 4.35% fall after disappointing quarterly results and outlook revision, and the CAC 40 index lost 0.43%. Kering tumbled 0.92% to the bottom of the pile.

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