European shares slip as U.S.-China tensions, poor earnings weigh

  • Reuters
  • Stock Market News
European shares slip as U.S.-China tensions, poor earnings weigh
Credit: © Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

July 16 (Reuters) - European shares eased from one-month highs on Thursday, as growing friction in U.S.-China relations put a dampener on hopes of a swift global recovery, while investors waited to hear from the European Central Bank.

The pan-European STOXX 600 .STOXX fell 0.7% by 0717 GMT after closing at a five-week high in the previous session.

A batch of poor earnings reports also added to the declines, with Dutch beer maker Heineken NV HEIN.AS sliding 4.9% and luxury goods group Richemont CFR.S dropping 5.0% as their sales took a hit from the coronavirus lockdowns. heightened tensions with Washington on trade, technology and geopolitics overshadowed data showing China's economy returned to growth in the second quarter after a coronavirus-inflicted slump. turns to the European Central Bank, which is set to deliver its monetary decision at 1145 GMT, but the bank is all but certain to keep policy on hold after a series of extraordinary moves. a bright spot, Sweden's Getinge AB GETIb.ST gained 3.8% as a surge in demand for ventilators and other life support equipment in the wake of the pandemic lifted its quarterly core profit. online fashion retailer Zalando SE ZALG.DE rose 2.8% as it increased its full year earnings forecast.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles