5th Oct 2018 11:25
BRUSSELS/FRANKFURT/PARIS (Alliance News) - European stocks retreated on Friday to extend losses from the previous session as upbeat US data and hawkish comments from Federal Reserve officials boosted expectations for inflation and continued rate hikes from the Federal Reserve in the coming months.
Concerns surrounding Italy and Brexit uncertainty also kept investors nervous ahead of the all-important US jobs data due later in the day.
"We are trying to change this Europe from the inside and we hope that the May European elections will give us a hand," Italy's Deputy Prime Minister Matteo Salvini reportedly said.
The pan-European Stoxx Europe 600 index was down 0.6% at 377.43 in late opening deals after losing 1.1% in the previous session.
The German DAX was losing as much as 0.8%, while France's CAC 40 index and the UK's FTSE 100 were down around 0.6%.
Consumer goods company Unilever was marginally higher. The company's board has decided to withdraw its proposal to simplify Unilever's dual-headed legal structure.
Danish lender Danske Bank, which is facing a criminal investigation by US authorities over a money laundering scandal, slumped 9%.
Gold mining company Centamin slumped 11% in London after reporting a 25% fall in quarterly output and cutting its annual output target.
Royal Mail lost 2.5% after Citigroup cut its rating on the stock.
Intu Properties soared 28% on news that a consortium including British billionaire John Whittaker and Canada's Brookfield Asset Management is considering a bid for the real estate investment trust. The company, however, said it hasn't received any buyout offer.
Freenet tumbled 2.7% in Frankfurt. After over a decade of service, Joachim Preisig has decided to leave the executive board of the company on December 31.
In economic releases, Germany's factory orders rebounded on foreign demand in August, figures published by Destatis revealed.
Factory orders grew by more-than-expected 2% month on month in August, reversing a 0.9% drop in July. Orders were forecast to rise 0.8%.
UK house prices dropped unexpectedly in September, data from the Lloyds bank subsidiary Halifax and IHS Markit showed.
House prices decreased 1.4% in September from August, confounding expectations for an increase of 0.2%. This was also much bigger than the 0.2% drop posted in August.
Related Shares:
UnileverCentamin PLCINTU.LRMG.L