European markets close lower as trade tensions rise, VW shares slip on Audi boss arrest

as mentioned in Market sentiment was being dominated by trade tensions between the U.S. and China with new tariffs on the table. By the end of trade, VW shares were lower by 2.8 percent. In the finance sector, CYBG has agreed to buy Virgin Money for $2.26 billion, creating the U.K.'s sixth-biggest bank. According to Reuters, the deal will see Virgin Money shareholders getting 1.2125 CYBG shares per Virgin Money share they hold. Shares in Virgin Money reversed early gains to close 2.5 percent lower.

European shares retreat on trade tensions

MILAN/LONDON (Reuters) - European shares fell for a second day on Monday as worries over a trade war between the United States and China continued to keep investors on the edge, while cable maker Nexans (NEXS.PA) plummeted after a profit warning. [MKTS/GLOB]"Investors continue to react to Friday's ramping of unwelcome US-China trade tensions," said Accendo Markets analysts Mike van Dulken and Artjom Hatsaturjants. Germany's DAX .GDAXI declined 0.8 percent, underperforming the broader European market amid worries that a crisis over migration policy could destabilize Angela Merkel's three-month-old coalition government. Adding to the pressure, Trump, who regularly complains about Germany's trade surplus and car exports, directly criticized Merkel's government. France's Nexans fell 16 percent after the company warned that an "abrupt deterioration" of its high-voltage activities was likely to translate into lower profits for the full year.

European shares retreat on trade tensions

as mentioned in

collected by :Ros Roger

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