Rolling coverage of the latest economic and financial news, including the latest UK inflation and house price data
- Introduction: Trump dampens hopes of trade breakthrough
- President’s threat of more tariffs worries investors
All the main European indices are a little lower this morning, pulling the Stoxx 600 index of EU companies down by 0.35%.
Mixed messages on trade from Trump and ongoing fears about the seemingly uncontrollable situation in Hong Kong has left Asian equines shaken. Hong Kong dipped another 2%, with China, Tokyo and Sydney all weaker. Hong Kong appears to be a city in complete chaos. One fears it could get a lot darker for the people of the city before the light emerges.
European equity markets are taking their cue from Asia with a softer open. The Stoxx 600 dipped about 0.25% in early trade while the FTSE 100 was off 0.5%. There are jitters again like we saw on Monday morning.
Britain’s FTSE 100 index has opened 26 points lower (-0.4%), dragged down by trade war jitters.
Financial stocks are among the fallers, with HSBC losing 1.6%, Barclays off 1.4% and Prudential down 1.3%. Cruise operator Carnival and luxury fashion group Burberry, who are both vulnerable to growth worries, are also down over 1%.