Tuesday, 02 June 2020
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European markets close lower amid trade worries; Richemont shares dip 6%
Saturday, 9 November 2019 00:00 WIB | MARKET UPDATE |Saham Eropa

European markets closed lower Friday, as investors reacted to conflicting signals about the ongoing Sino-U.S. trade war.

The pan-European Stoxx 600 index closed down around 0.4%, with most sectors and major bourses in negative territory. Retailers were among the worst performers, Ocado leading the sector™s losses with a more than 7% drop.

Meanwhile, data from Chinese customs on Friday showed the country™s October exports fell 0.9% year-on-year, while imports fell 6.4%. The figures reportedly beat analysts™ expectations.

Looking at individual stocks, Richemont tumbled toward the bottom of the European benchmark. The Swiss watchmaker reported weaker-than-expected earnings for the first half of the year, as political protests in Hong Kong weighed on sales growth. Shares of the firm slipped over 6% on the news.

Source: CNBC

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