12/2/2019, 5:30 PM (Source: TeleTrader)
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European stocks drop on close with data in focus

Equities on major European markets posted losses at the close of the session on Monday following the release of the latest manufacturing figures.

Germany, the United Kingdom, and the Eurozone as a whole all measured a rise in manufacturing activity in the eleventh month but remained, however, in contraction despite the figures being somewhat positive.

The stock markets were largely attuned to the latest developments in trade, following US President Donald Trump's announcement about reimposing steel and aluminum tariffs on Brazil and Argentina. Trump explained that Brasilia and Buenos Aires' "massive devaluation" of currencies led to the decision.

The DAX declined 2.05% at the close as RWE plunged 5.43%. The CAC 40 dipped 1.95% as the session ended. The worst performer was Orange, whose stock sank 4.40%. The FTSE 100 lost 0.82% at the closing bell dragged down by Ocado Group's shares plummeting 7.02%.

The pound traded flat versus the US dollar, buying 1.29345 at 5:30 pm CET.

Breaking the News / GG