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EUROPE MARKETS: Europe Stocks Stumble As Weak Oil Prices, Trade Worries Weigh On Investors

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06/12/2019 | 08:44am EDT

By Barbara Kollmeyer, MarketWatch

Axel Springer, Dassault Systemes, oil names active

European stocks fell Wednesday, tracking losses across global markets as oil prices fell and investors were filled with fresh uncertainty over a potential trade deal between the U.S. and China.

How are markets performing?

The Stoxx 600 fell 0.5% to 378.74, after a 0.9% gain on Tuesday.

In Germany, the DAX fell 0.6% to 12,086.16, after a 1.3% climb Tuesday.

The U.K.'s FTSE 100 dropped 0.7% to 7,340, on the heels of a 0.5% gain.

Elsewhere, France's CAC 40 fell 0.7%, nearly reversing a 0.8% gain Tuesday, while Italy's FTSE MIB dropped 0.7%, from a 0.9% gain the prior session.

   The pound   was flat at $1.2737, while the euro   slipped 0.1% to $1.132. 

What's moving the markets?

Renewed concerns over a U.S.-China trade deal damped enthusiasm for global equities after the Dow Jones Industrial Average broke a 6-session winning streak. Trade-deal optimism had been building ahead of a Group of 20 meeting at the end of the month, but U.S. President Donald Trump admitted Tuesday he was "holding up" a deal between the countries.

Oil was the biggest losing sector in Europe, as heavily weighed companies tracked sharp falls in U.S. and Brent crude prices , down over 2% each . That was after a report showing higher U.S. inventories and ahead of a key government report on supplies data due later. Total fell nearly 2%, while BP PLC

As well, investors were watching unrest in Hong Kong where thousands of protesters surrounded government headquarters on Wednesday, forcing the delay of a legislative session to vote on a bill that would allow criminal suspects in Hong Kong to be sent for trial in mainland China. Police opened up with tear gas and water cannons to try to disperse those protesters, and Hong Kong stocks tumbled amid the unrest.

Which stocks are active?

Axel Springer surged 11%, making for a top gainer in the Stoxx Europe 600 index, after private equity group KKR announced a $7.7 billion takeover offer for the German media group.

Dassault Systemes SA (DSY.FR) shares fell 1.6% after announcing a deal to buy U.S. health care software group Medidata Solutions in a $5.8 billion deal .

Shares of Spanish retail group Inditex SA (ITX.MC) fell 1% after posting a better-than-expected net profit rise, but sales that came in below expectations .

Banks were also under pressure across the board, with HSBC Holdings PLC dropping 1% and Banco Santander fell 1%.

Stocks mentioned in the article
ChangeLast1st jan.
AXEL SPRINGER 0.08% 63.05 Delayed Quote.27.68%
BANCO SANTANDER, S.A. -1.63% 3.4905 End-of-day quote.-12.14%
BP PLC -1.25% 493.75 Delayed Quote.-0.52%
CAC 40 -0.50% 5344.64 Real-time Quote.12.05%
DASSAULT SYSTÈMES 0.39% 128.75 Real-time Quote.24.16%
DAX -0.55% 11651.18 Delayed Quote.10.34%
DJ INDUSTRIAL -0.66% 25962.44 Delayed Quote.11.30%
EURO STOXX 50 -0.56% 3350.23 Delayed Quote.10.92%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
HSBC HOLDINGS PLC -1.39% 596.7 Delayed Quote.-7.73%
INDITEX - INDUSTRIA DE DISEÑO TEXTIL -1.05% 26.33 End-of-day quote.17.81%
KKR & CO INC 0.89% 24.93 Delayed Quote.25.88%
MEDIDATA SOLUTIONS INC 0.04% 91.62 Delayed Quote.35.89%
NASDAQ 100 -0.71% 7664.470939 Delayed Quote.20.13%
NASDAQ COMP. -0.68% 7948.560325 Delayed Quote.19.00%
S&P 500 -0.79% 2900.51 Delayed Quote.16.63%
STOXX EUROPE 600 -0.68% 371.3 Delayed Quote.9.47%
STOXX ITALY 45 (EUR) 1.47% 92.26 Delayed Quote.10.46%
TOTAL -1.10% 43.665 Real-time Quote.-5.45%
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