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European stocks close at seven-month low; London exchange limits trading after 'incident' - TL;DR CNBC

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.DJIRNO-FRUS10Y.STOXX.FTMIB

Keywords: south koreabreaking news: europerenault sapricesjapaneconomic eventsgovernment debtstoxx 600business news

Source: https://www.cnbc.com/2023/10/19/european-markets-live-updates-stocks-news-data-and-earnings.html


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