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European shares dip as global growth worries persist

Published 14/08/2019, 08:31
European shares dip as global growth worries persist
STOXX
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SCHP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 14 (Reuters) - European shares were slightly lower on
Wednesday, as a weak growth outlook from Germany and China
stoked fears of a global slowdown, overshadowing a temporary
U.S.-China tariff truce.
The pan-European STOXX 600 index .STOXX fell 0.2% by 0710
GMT, with all major indices in the red.
U.S. President Donald Trump's administration delayed
imposing a 10% tariff on certain Chinese products, including
laptops and cell phones, beyond September on Tuesday, providing
battered equity markets world-wide some relief. However, weak industrial data from China and a contraction
for export-reliant German economy - Europe's largest - in the
second-quarter was a reminder that the impact of the drawn out
trade war between the United States and China is far from over.
In corporate news, shares of Swiss elevator and escalator
manufacturer Schindler SCHP.S fell 4.3% after it reported a
22% dive in second-quarter profit, dented by wage inflation,
higher material costs, foreign exchange, and planned higher
costs.

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