European stocks plummet as US sanctions against Huawei add to trade worries By Reuters

(Reuters) – European stocks fell on Thursday after Chinese telecoms giant Huawei was blacklisted by the United States, adding another contentious element to the US-China trade dispute.

The index fell 0.4% at 07:27 GMT, the losses being the largest in Germany, sensitive to tariff information and related to China.

The US Department of Commerce has announced the addition of Huawei Technologies Co Ltd and 70 subsidiaries to its list of entities, which prohibits the company from acquiring components and technologies from US companies without government approval.

The announcement on Wednesday that US President Donald Trump was planning to delay the imposition of tariffs on imported cars and parts has helped European markets deepen at the end of the session.

But European manufacturers and their suppliers fell back on Thursday.

The transaction and results reports were a second central point for regional investors.

Thyssenkrupp (DE 🙂 was the best interpreter of STOXX 600 after Reuters announced that the Finnish Kone could bid for the elevator division of the German conglomerate, worth 14 billion euros ($ 15.7 billion) . Kone jumped 5%.

Nestle SA (SIX 🙂 said it has entered into exclusive talks to sell its skin health business to a consortium led by private equity firm EQT Partners under a 10-year contract. 2 billion Swiss francs (10.12 billion dollars). His shares were trading flat.

The British Burberry fell 4% after posting a generally stable business and profit figure for the entire year, and said he expects it to "grow. it is the same this year. Its results overthrew peers listed in Paris, including LVMH, Hermes and kering (PA 🙂 between 0.5% and 1%.

The British company CYBG Plc, owner of Clydesdale and Yorkshire Bank, sold more than 3%, one day after its results showed profitability in the first half.

Thomas Cook's shares fell about 20% after the travel group said economic and political uncertainty would affect earnings this summer, after recording an increase in losses.

Staple stocks rose after Shanghai aluminum futures reached their highest level since October 2018 after the closure of a refinery in China.