STOXX 600 edges down on US trade uncertainties; set for monthly gains
The continent-wide STOXX 600 index (.STOXX), opens new tab was down 0.1%, as of 0711 GMT, pressured by a temporary reinstatement of the most sweeping of Trump's tariffs a day after another court ordered an immediate block on them.
However, the benchmark index was set for its first monthly advance in three, up 3.8% so far, capitalising on easing trade tensions and the recent U.S. fiscal concerns that forced investors to move away from American assets.
On Friday, data showed German retail sales fell by 1.1% in April compared with the previous month. Investors also looked ahead to Germany's May inflation figures, to be released later in the day, that could offer more clues about the European Central Bank's policy decision next week.
Among sectors, basic resources (.SXPP), opens new tab was the biggest drag and fell 0.9%, dragged by lower copper prices.
The real estate (.SX86P), opens new tab supported the main index by rising 0.8%.
M&G (MNG.L), opens new tab jumped 8.2% after it said Japanese life insurer Dai-Ichi Life Holdings (8750.T), opens new tab will take a 15% stake in the British insurer and asset manager as part of a strategic deal.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
9 minutes ago
- The Independent
Former Salmond staffer rejects Sturgeon claims in book as ‘obviously false'
Nicola Sturgeon's new book contains 'falsehoods at worst, fabrications at best' about her predecessor, Alex Salmond's former chief of staff has claimed. Geoff Aberdein, who worked for Mr Salmond when he was first minister, hit out at Ms Sturgeon, saying: 'I was brought up that you didn't speak ill of the dead. 'But I think if you're going to speak ill of the dead, at least make your claims accurate.' He told the Holyrood Sources podcast that Mr Salmond's widow Moira was 'particularly upset and frustrated at a lot of what has been said' about her late husband, who died suddenly in October 2024. Mr Aberdein continued: 'I think it was important to set out and correct the record not just because Alex is not in position to defend himself, but for myself as well and the series of other officials and civil servants that have contacted me.' Claims that Mr Salmond was the person who leaked the story of the sexual harassment allegations against him are 'obviously false', Mr Aberdein insisted. He said that when his former boss took the phone call to say the story about the allegations was being published by the Daily Record he was actually meeting lawyers to 'draft a legal summons to prevent Nicola Sturgeon's Government from making the allegations public'. Mr Aberdeen said: 'To suggest Alex was simultaneously leaking documents deeply damaging to his reputation whilst at the same time paying lawyers a lot of money to get a court order to prevent publication of the same material is just utterly absurd.' Mr Salmond went on to be acquitted of all the charges against him in a court case in 2020. Mr Aberdein also dismissed claims by Ms Sturgeon that Mr Salmond 'didn't read' the white paper on independence which had been produced by the Scottish government in the run up to the 2014 referendum. In her recently published memoir, Frankly, Ms Sturgeon spoke out about her 'cold fury' with her former leader over his 'abdication of responsibility' on the key document. Mr Aberdein – who said he would not be reading the book – accepted that his former boss 'delegated the responsibility for drafting the white paper to Nicola Sturgeon'. However he insisted: 'To suggest, as I think was the purpose of this story, that he wasn't engaged in the process of a prospectus for independence is utterly nonsense. The former Salmond chief of staff also rejected claims that Mr Salmond was 'apparently against same-sex marriage' – saying that this was 'demonstrably false'. Mr Aberdein told the podcast Mr Salmond had 'declared his personal support for gay marriage for the first time' in a newspaper article in April 2011. And he added that while the SNP election manifesto that year had pledged to consult on the issue Mr Salmond 'chose to come out… excuse the pun, the turn of phrase, ahead of that result, to say that he personally supported it.' With the SNP having won the 2011 Holyrood election, Mr Aberdein recalled 'being in the room with advisors, civil servants and indeed ministers about how we would go about reassuring different sections of our society about that legislation, particularly religious leaders and other civic leaders'. He also made the 'obvious point' that 'if Alex Salmond didn't want legislation to be progressed, he was the first minister of a majority SNP government, it wouldn't have been progressed'. Mr Aberdeen said: 'The point falls down on that alone.'
BBC News
10 minutes ago
- BBC News
States members to vote on suspension of deputy
The committee which oversees the conduct of States members, is set to bring forward proposals to suspend Deputy Philip Ozouf for 28 days for breaching the code of announcement has been made after an investigation by the commissioner of standards into whether he had brought public office into disrepute after speeding offences in November upheld complaints that Deputy Ozouf's offence and his failure to attend three parish hall enquiries, breached several codes of conduct for States Ozouf has yet to respond to the BBC to provide a comment. Standards and conduct The breaches identified included not fulfilling his public duty by breaking the commissioner said the fact Deputy Ozouf did not engage with the investigation in a timely manner undermined public panel of politicians which oversees the standards and conduct of States members have now put forward a proposal to suspend Deputy Ozouf from the States Assembly for 28 will vote on that on 9 September and if they support the suspension, then it will take place with immediate effect.
Reuters
10 minutes ago
- Reuters
Shareholders representing around 78% of Mediobanca expected to attend meeting on Banca Generali
MILAN, Aug 20 (Reuters) - Mediobanca ( opens new tab shareholders representing around 77%-78% of the Italian bank's share capital are expected to attend a meeting on Thursday to decide on a Banca Generali ( opens new tab deal, a source close to the merchant bank said on Wednesday. A close shareholder vote is expected on Mediobanca CEO Alberto Nagel's proposed 6.8 billion euro ($7.9 billion) acquisition of Banca Generali to create Italy's second-largest wealth manager. For the CEO's proposal to pass, at least 50% of the capital attendance at the meeting is needed. Merchant bank Mediobanca made the move for Banca Generali as it seeks to thwart a takeover bid from state-backed Monte dei Paschi di Siena ( opens new tab in a consolidation wave sweeping Italian banking.
