Reuters Insider - Stocks slip amid lack of detail on trade deal

Baader Bank AG

14/10/2019 15:08

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Source: Reuters Insider

Description: Stock markets slipped sharply on Monday as signs of progress in
the China-U.S. trade dispute drew mixed a reaction from investors. Brexit
worries, meanwhile, drove London stocks lower. David Pollard reports.
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Video Transcript:

After the party, the hangover. A three-day buying spree on Europe's share
markets bumped to a halt on Monday as euphoria over progress in US-China trade
talks ebbed away, and as new data confirmed recent damage to China's economy.
A 3.2% drop in exports means the pace of decline in goods sent abroad is
picking up. And though Chinese officials were upbeat about the negotiations,
September imports dropped fast too, by 8.5% year-on-year. Major bourses
slipped 0.75% or more into the red. And the news hit oil: Benchmark Brent and
US WTI gave back nearly a third of last week's 3% gains. For UK shares, there
was a double dose of uncertainty. Despite positive recent noises from the EU
and the UK, this week's EU summit looms as a deadline that may not be met for
an all-important Brexit deal. Baader Bank's Robert Halver.

What the current state of things is no one can say. You could throw a coin in
the air and see if it comes up heads or tails. London's mid-cap stocks were
down over a percent and Sterling, which rocketed higher at the end of last
week, lost heavily. It, and the Euro's pain though, was the Dollar's gain. The
greenback one asset to rise as investors shed riskier assets in favor of a
safer haven