European shares flat as Brexit impasse sinks in

People walk through the lobby of the London Stock Exchange in London, Britain, December 3, 2015. ― Reuters pic
People walk through the lobby of the London Stock Exchange in London, Britain, December 3, 2015. ― Reuters pic

LONDON, March 13 — opened broadly flat today as uncertainty prevailed on Britain’s plan to leave the European Union and no corporate or economic news appeared strong enough to shake the risk-off mood spreading from Asia overnight.

The pan-European STOXX 600 index was down 0.05 per cent by 0816 GMT, after closing 0.06 per cent down yesterday as it became clear British Prime Minister Theresa May would lose a key vote in Parliament on her plans for an orderly Brexit.

London’s FTSE was also little changed, down 0.1 per cent as the pound recouped some of its losses from the previous session.

Among individual stocks, shares in Germany’s Adidas posted the worst performance, losing 5.5 per cent after announcing that supply chain issues would hit its in the first half of 2019, particularly in North .



Another big loser was cash-rich Zara owner Inditex which was down 4.7 per cent after it published annual earnings slightly below analysts’ expectations.

Wirecard was the third-biggest faller, with a 4.3 per cent hit after it suspended an accounting employee in amid allegations of fraud and creative accounting. — Reuters

Source: The Malay Mail Online





Leave a Reply

Your email address will not be published. Required fields are marked as *

Time limit is exhausted. Please reload CAPTCHA.