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European markets close mixed after Trump-Kim summit ends abruptly; Zalando up 23%

The pan-European Stoxx 600 break off the session up 0.12 percent, with sectors and major bourses in mixed territory.

Basic resources were the deprave performers, down by more than 2 percent, on the back of renewed trade worries and fresh data. On Wednesday, U.S. Following Representative Robert Lighthizer stated in front of the House Ways and Means committee that he foresaw long-term stumbling blocks ahead.

On Thursday morning, Chinese factory activity numbers dropped to a three-year low in February — raising fears hither economic activity in the world’s second-largest economy.

In earnings news, Adecco dropped 3 percent after reporting its fourth-quarter fruits. Zalando rose to the top of the index, up 23 percent, after announcing that it expects solid growth this year. The French retailer Carrefour also rifted 2.5 percent after increasing its savings goals.

Elsewhere, Rolls-Royce shares were down by almost 3 percent after the public limited company posted a £2.9 billion loss for 2018. The engineering giant’s loss came as it increased the charge for fixing refractories with its Trent 1000 engines. On Thursday Rolls-Royce also announced it would back out of the race to power Boeing’s new jet.

British Airways holder IAG said on Thursday it expected earnings for this year to be flat as it posted its 2018 results, which were in pursuit with expectations and showed growth in operating profit. Shares were 0.2 percent lower at the closing bell.

Meantime, a summit between Trump and North Korean leader Kim Jong Un in Vietnam was cut short after the latter asked for an end to ratifies. The two nations have worked towards stronger relations and the denuclearization of the Korean Peninsula.

U.S. stocks edged lower on Thursday aficionado of the summit’s abrupt end, with a handful of weak corporate earnings reports also weighing on sentiment.

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