European markets dip, taking cue from Asian nervousness

Business

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 2, 2018. REUTERS/Staff

LONDON (Reuters) – European shares dipped on Monday after markets in Asian again suffered from investor nervousness over fast-rising interest rates in the United States and its trade dispute with China.

The pan-European STOXX 600 was down 0.1 percent by 0819 GMT, with most European bourses in negative territory.

The U.S. mid-term elections were expected to add some tension to the markets while in Europe, hopes of a breakthrough in Brexit negotiations kept traders on their toes.

Results from the European banking stress tests were calmly received and the sector .SX7P was down 0.3 percent.

Lloyd’s of London underwriter Hiscox posted the worst performance, falling 7.4 percent after warning that growth could moderate over the rest of the year.

Telenet (TNET.BR) lost 5.6 percent after a rating downgrade from Bank of America Merrill Lynch.

Siemens Healthineers rose 3 percent after forecasting higher earnings for next year and posting fiscal fourth-quarter profit above expectations.

Reporting by Julien Ponthus; Editing by Alexander Smith

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