European equities sparked concern on Thursday over the state of U.S.-China trade talks, as data showed a stagnant economy in Germany.
Stoxx Europe 600
SXXP, -0.09%
fell 0.08% to 405.52, which is still near the record high of 414.06.
"European equities seem modestly cheap on absolute terms and extremely cheap in relation to government and corporate bonds," said strategists at Citi, who predicted that the Stoxx 600 will reach 420 by the end of 2020.
The German DAX
DAX, -0.22%
fell 0.34% to 13184.51, French CAC 40
PX1, + 0.02%
depreciated 0.04% to 5904.98 and UK FTSE 100
UKX, -0.46%
fell 0.18% to 7338.01,
The US-China trade talks have settled into the yard purchase, according to the Wall Street Journal.
Meanwhile, Germany reported that the economy grew 0.1% in the third quarter, which was slightly better than expected, but from a downgraded second quarter.
“I something sensible, this is the & # 39; worst & # 39; from both worlds for markets. Today's data confirms that the German economy has now stalled, but the headlines are probably not expensive enough to get an immediate and aggressive fiscal response from Berlin, says Claus Vistesen, head of eurozone at research consultancy Pantheon Macroeconomics.
In the economy, too, the UK's retail sales grew by 0.2% in the three months ended October, which is the worst in 16 months.
Of shares on the move, Qiagen
QIA, + 11.85%
jumped 13.6% after Bloomberg News reported biotechnology developer Thermo Fisher Scientific
TMO, + 1.37%
has approached the German-listed genetic testing company with an offer. Neither Thermo Fisher nor Qiagen commented.
Burberry Group
BRBY, + 4.66%
went up 4.5% when the luxury goods business reported a stronger result than expected in the fiscal year. It reduced the outlook for gross margin due to the disruption in Hong Kong.
Daimler
DAI, -2.60%
when the Mercedes-Benz car manufacturer said that profits in 2020 and 2021 will be adversely affected by efforts to meet carbon targets. Daimler said it will cut an unspecified number of jobs.
3i Group
III, -4.89%
fell 4.4% after the private equity company reported a 10% return over the six months to September 30. Still, the share is up 39% this year.
