DJIA24465.16
LIVE0(0.00%)
NDX9413.99
LIVE0(0.00%)

European Stocks Close Lower After China Strengthens Currency, Easing Trade Retaliation


Tuesday, 6 August 2019 23:18 WIB

Stoxx 600Saham Eropa


c_740_198_16777215_00_images_assets_EUROPE_0eustock.jpg

European stocks closed lower on Tuesday after China’s central bank set the yuan’s official reference point at a stronger than expected level, easing its retaliation to U.S. tariffs, while rejecting Washington’s designation of Beijing as a “currency manipulator.”

The pan-European Stoxx 600 was 0.4% lower at 387.71 during afternoon trade, with household goods stocks — which covers the China-exposed luxury sector — leading the gains. Luxury brands LVMH, Christian Dior and Hugo Boss all saw their shares cross into positive territory.

The People’s Bank of China (PBOC) denied Washington’s allegations of currency manipulation, and set its yuan fixing at 6.9683 per dollar, below the important line of 7 per dollar that it had breached on Monday.

Source : CNBC


RELATED NEWS

  • Hong Kong stocks finished Monday with small gains, reversing a morning sell-off, but investors remain on edge after a weekend of protests in the city against a controversial security law proposed by B...
  • Tokyo stocks closed higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index rose 1.73 percent o...
  • Hong Kong stocks started Monday with more losses, extending a sharp drop at the end of last week, after the city saw fresh street clashes over a controversial security law proposed by China. The Hang...
  • Tokyo stocks opened higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index was up 1.37 percent...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.