|Day's Range||9,357.80 - 9,482.80|
|52 Week Range||8,409.20 - 9,709.90|
European stocks fell on Wednesday, a day after President Donald Trump failed to offer any clarity over the rollback of tariffs against China, and raised concerns that Europe wasn’t out of the woods over an auto tariff hike.
The Spain IBEX 35 index fell Tuesday after news the ruling Socialist Party has reached a pact with the left wing Unidos Podemos party. It comes two days after a general election left Prime Minister Pedro Sánchez's Socialists without enough votes to form a government. The new coalition will still need the support of regional and other leftist groups, which some say won't be easy. The coalition between these parties may make it tough for Spain to achieve its debt targets, said Javier Rivas, financial analyst and professor at EAE Business School in Madrid, in a note. "When the economy slows down, it will be necessary to take supportive fiscal measures. Although we still don't know the details of the pre-agreement between the PSOE and Podemos, in any case, it will make these decisions very complex and this will affect all areas."
Investing.com -- Yields on Spanish government bonds rose and the premium over the benchmark German bond widened after acting Prime Minister Pedro Sanchez invited the populist left-wing Unidos Podemos party to form a coalition government. It's the first time that Podemos, which has loudly dissented against the euro zone's fiscal policy in the past, would be represented in government at the national level.
Investing.com -- The escalation of violence in Hong Kong over the weekend has cast a pall over European stock markets on Monday, reinforcing a “risk-off” move that was already underway thanks to comments from the U.S. playing down the chances of a mutual reduction in import tariffs with China.
Major European indices trending lower on the back of weak economic data out of Europe. 178-year old travel company Thomas Cook collapses. WeWork IPO shelved
Shares in European semiconductor companies, one of the most sensitive sectors to the global trade tensions, recovered from their worst day in 4-1/2 months on Tuesday after the White House backtracked overnight on tough limits on China's Huawei. AMS, STMicroelectronics and Germany's Infineon shot higher - between 2-5.6% - in early deals after Washington temporarily eased trade limits on China's Huawei Technologies, in a move aimed at minimising disruption for its customers. The technology index was up 1% at 0741 GMT, recovering some of the 2.8% lost on Monday as investors shunned the sector amid worries that Huawei suppliers would lose business or have to sever ties with the world's No. 2 smartphone company due to tough U.S. restrictions imposed last week.
European autos stocks surged on Wednesday after Bloomberg reported, citing sources, that U.S. President Donald Trump plans to delay imposing threatened tariffs on car imports as the White House focuses on its spat with China. Europe's autos and suppliers index jumped, up as much as 2.2%, after the report which follows a Reuters report last week that automakers expect Trump to delay his decision on car tariffs for up to six months.