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European stocks retreat from 2-year high; as euro rallies; Suez tanks


Thursday, 25 January 2018 00:15 WIB

Indeks Stoxx Europe 600Saham EropaStoxx Europe 600


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European stocks broke a four-session winning streak on Wednesday, yanked lower by a rally in the euro after U.S. Treasury Secretary Steven Mnuchin cheered the recent slide in the dollar.

Utility companies were among biggest decliners after a profit warning from industry major Suez SA.

The Stoxx Europe 600 index  ended down 0.5% at 400.79, falling from its highest close since August 2015 reached on Tuesday.

Germany’s DAX 30 index fell 1.1% to 13,414.74, losing a grip on its record close from Tuesday. France’s CAC 40 index dropped 0.7% to 5,495.16, while the U.K.’s FTSE 100 index lost 1.1% to 7,643.43.

The euro climbed to $1.2390 from $1.2298 late Tuesday in New York. The pound jumped to $1.4209 from $1.4000 on Tuesday.

The losses across Europe came as traders weighed up strong economic data against a rallying euro and a profit warning from French utility major Suez.

Source: Marketwatch


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