Europe’s markets were mixed on Wednesday, with banking and autos sectors under pressure and investors waiting for further details on a potential U.S./ China trade deal.
How are markets performing?
The Stoxx Europe 600 XX:SXXP was flat on at 375.69, after finishing up 0.15% on Tuesday.
What’s driving the markets?
Meanwhile, banks came under heavy pressure after Tuesday’s reports that billions of Russian funds have allegedly been channeled via Lithuanian financial institutions to banks that include those in the Netherlands. Shares of Dutch lenders ABN AMRO NL:ABN and ING NL:INGA , among others, fell.
Elsewhere, investors are anticipating further trade deal developments after Monday’s media flurry that an agreement between U.S. and China will soon be reached.
What stocks are active?
Legal & General Group PLC UK:LGEN lost 4%, despite announcing a profit rise in 2018 . “Shares have slid back from three year highs in early trading, no doubt due to some profit-taking, after a 24% rise from the lows we saw in December,” said Michael Hewson, chief market analyst at CMC Markets U.K., in a note.
“Just Eat are trying to work with the same sort of branded restaurants their rivals are targeting, and offering their own delivery offering. None of this comes cheaply, and the costs are holding profits back,” said Steve Clayton, manager of the Hargreaves Lansdown’s select funds.