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The Breakfast Briefing: Europe & Asia: Markets Rattled After Trump Backs Hong Kong Protesters
FYI: Global stocks dipped Thursday on fresh concerns over U.S.-China relations after President Trump signed a bill supporting Hong Kong protesters.
The pan-continental Stoxx Europe 600 declined 0.2%, and the Shanghai Composite Index ended the day down almost 0.5%. While U.S. markets are closed for the Thanksgiving holiday, futures linked to the Dow Jones Industrial Average dropped 0.3%.
Investors’ concerns about the impact on the continuing trade war on the global economy weighed on oil prices, with Brent crude futures dipping 0.4% to $62.73 a barrel.
Over in the U.K., the FTSE 100 equity benchmark declined 0.5% after a closely watched poll suggested that Prime Minister Boris Johnson’s Conservative Party are poised to secure a majority in next month’s general election. The British pound rose to a six-month high against the euro overnight.
Among the biggest gainers in Europe was Virgin Money. The financial-services company gained over 24% in London after reporting some financial metrics including net interest margin and capital measures that were better than analysts had expected.
Meanwhile, Rémy Cointreau slipped 2.3% in Paris after the French beverage company’s fresh forecasts for the year disappointed investors. Regards, Ted