European stock markets end session in red as global equities fall

UKX, -0.39%

slipped to close at 0,026.99, down 0.4% as Brexit worries continue to influence trade. For both landmarks, it was the worst point and percentage drop in a week.

The German DAX 30

DAX, -1.07%

by 1.1% at the end of Thursday's session, posting 11,589.21 points, and the French CAC 40

PX1, -0.55%

decreased by 0.6% to 5.116,79 by the closing bell.

The FTSE MIB Italy Index in Italy

I945, -1.89%

1.9% to 19,087.53, while budget negotiations with the European Union had been disrupted.

L & # 39; euro

EURUSD -0.3565%

The last traded price at $ 1,1470, compared to $ 1,1502 on Wednesday night in New York. The pound

GBPUSD, -0.7015%

in the meantime was $ 1.3043 of $ 1.3114.

Lily: With the risk of "not agreeing" up on the Brexit, analysts believe that the trajectory of the pound sterling is uncertain.

What is the driving force of the market?

Market participants highlighted the strength of the recent earnings series as the reason why European equity indices were slightly higher at the start of the session. But European equities, which often draw indexes from the US stock market, ended the day down after US stocks turned red, driven by the names of technologies and communications services. In addition, concerns over Britain's efforts to extricate itself from the EU seem to have been delayed in a border impasse.

British Prime Minister Theresa May on Wednesday at a supervised summit in Brussels has hinted that she plans to extend the transition period to Brexit, as the British leader has failed. to conclude a new trade and customs pact, with the United Kingdom preparing to leave the EU in March. An extension could see Britain staying under EU rules until 2021 or more, according to reports.

A scenario of "no agreement" seems more and more likely The President of the European Council, Donald Tusk, said earlier in the week that he had "no motive for optimism". A non-agreement could spoil the eurozone markets and generate strong fluctuations in the pound sterling.

At the same time, investors also closely followed the discussions between the anti-establishment 5 Star Movement and the far-right League on a comprehensive finance bill that will be sent to the Italian parliament from here. Saturday, but that should anger EU officials deficit and violate the EU's budget rules. According to Mario Draghi, head of the European Central Bank, member states that did not comply with EU rules were facing high costs for everyone, according to Reuters.

What do the strategists say?

"At the same time, in the euro area, besides the Brexit, Italy's spending plans are another area of ​​concern for traders." Recent comments from EU officials, including the Commission's president European, Jean-Claude Junker, have minimized the hopes of breakthrough, "said Christina Parthenidou, analyst XM in a research note on Thursday.

What stocks are moving

Paris Stocks Carrefour SA

CALIFORNIA, + 9.34%

topping the pan-European winners, closing the session by more than 9%, after the supermarket company announced better-than-expected sales in the third quarter.

LM Ericsson AB

ericb, + 6.18%

closed down 6.2% after the Swedish telecoms manufacturer beat the estimates, while the 5G market experienced a "momentum".

Unilever PLCof the

ULVR, -0.93%

Shares fell 0.9% at the end of Thursday, as the maker of Breyers ice cream and Dove shampoo sold more products at higher prices, which helped it achieve stronger growth in sales in the third quarter.

Novartis AG

NOVN, + 1.90%

announced Thursday its intention to acquire a radiopharmaceutical company Endocyte Inc.

ECYT, + 50.32%

under a $ 2.1 billion deal, Novartis' most recent transaction to transform into a specialty drug company. Novartis shares rose 1.9%.

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