EUROPE MARKETS: Europe Stocks Stuck After Two Days Of Gains
August 20 2019 - 5:49AM
Dow Jones News
By Steve Goldstein, MarketWatch
Europe stocks on Tuesday hugged the flat line after two days of
gains, supported by murmurings that fiscal policy could join
monetary action in supporting the global economy.
Flipping between slight gains and losses, the Stoxx Europe 600
in mid-morning trade fell 0.1% to 373.76.
The German DAX fell 0.1% to 11701.11, the French CAC 40 was a
touch lower at 5370.81 while the U.K. FTSE 100 rose 0.3% to
7207.11.
U.S. stock futures were slightly higher after a 250-point
advance for the Dow Jones Industrial Average on Monday.
What's moving markets
Talk of fiscal stimulus was once again in the air, as the
Washington Post reported that White House officials have begun
talking about a temporary payroll tax cut, while Italian Deputy
Prime Minister Matteo Salvini called for a 50 billion euro "shock"
stimulus ahead of a key speech from Prime Minister Giuseppe Conte.
Italy's FTSE MIB fell 0.3%.
Both proposals have a long way to go before becoming policy. A
spokesman for Sen. Chuck Grassley, the Iowa Republican who leads
the Senate Finance Committee, said he's not discussed a payroll tax
cut -- and in any case, the Democrat-controlled House Ways and
Means Committee also would need to support any legislation.
Focus stocks
AstraZeneca (AZN.LN) (AZN.LN) rose 1.5% after reporting that a
late-stage trial of its Farxiga drug met its endpoint of
significantly reducing the risk of cardiovascular death or
worsening of heart failure.
French supermarket operator Casino Guichard-Perrachon (CO.FR)
climbed 3.8% as it said it's planning to sell 2 billion euros of
assets, having already sold 2.1 billion euros.
Pandora (PNDORA.KO) shares rallied 5.1% in Copenhagen as the
jeweler announced new restructuring measures after reporting a 50%
profit drop in profit.
(END) Dow Jones Newswires
August 20, 2019 05:34 ET (09:34 GMT)
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