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European shares dip as trade caution lingers

Published 29/11/2019, 09:20
© Reuters.  European shares dip as trade caution lingers
DE40
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DNB
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Nov 29 (Reuters) - European shares edged lower for the

second straight session on Friday, as investors feared a new

U.S. law backing protesters in Hong Kong would cloud the

prospects of a preliminary Sino-U.S. trade deal.

On Thursday, China warned of "firm counter measures" to the

law supporting anti-government protesters in Hong Kong. The

editor of China's state-backed Global Times tabloid said later

in a tweet those could include barring drafters of the

legislation from mainland China, Hong Kong and Macau.

The pan-European STOXX 600 index .STOXX was down 0.4% at

0806 GMT, but still on track for its best week in three after a

boost from positive headlines on trade earlier in the week.

Shares of Norway's largest bank DNB DNB.OL fell 3.4% after

police said they were investigating to establish whether any

laws were broken in its handling of payments from an Icelandic

fisheries firm to Namibia. Frankfurt-listed shares .GDAXI dropped 0.4%, as data

showed German retail sales dipped in October, suggesting private

consumption in Europe's largest economy took a pause before the

Christmas shopping season. Traders are now awaiting a raft of economic indicators

including the euro zone unemployment rate for October and

preliminary GDP figures for the fourth quarter from Italy.

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