European stocks close at seven-month low; London exchange limits trading after 'incident'
Publishing timestamp: 2023-10-19 12:08:22
Summary
European markets fell for the third straight session due to concerns about the crisis in the Middle East, earnings reports, and economic data. The pan-European Stoxx 600 index closed 1.16% lower, with autos leading the losses. Tech stocks bucked the trend with a slight uptick. Similar selloffs were seen in Asia-Pacific markets and on Wall Street. The London Stock Exchange experienced an incident and limited trading to certain securities. Initial filings for unemployment benefits in the US dipped, indicating a tight labor market. Italian and UK bond yields rose, reflecting investor appetite for safe-haven assets. Several companies, including Renault, Nestle, Rentokil, Telia, and Nokia, reported earnings or updates on their business performance. ESG investing was described as "crowded," and Piper Sandler named a "highest conviction" stock with potential upside. European markets were expected to open lower.
Sentiment: MIXED
Tickers: .SPX, .FCHI, .GDAXI, .IXIC, .FTSE, .DJI, RNO-FR, US10Y, .STOXX, .FTMIB,
Keywords: south korea, breaking news: europe, renault sa, prices, japan, economic events, government debt, stoxx 600, business news,
Source: https://www.cnbc.com/2023/10/19/european-markets-live-updates-stocks-news-data-and-earnings.html