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European shares fall on Hong Kong unrest, Trump's disappointing trade comments

Published 13/11/2019, 09:26
© Reuters.  European shares fall on Hong Kong unrest, Trump's disappointing trade comments
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Nov 13 (Reuters) - European shares retreated from four-year

highs on Wednesday, as a highly anticipated speech by U.S.

President Donald Trump gave no new clues on the progress of a

trade deal with China, and as anti-government protests in Hong

Kong raged on, denting sentiment.

The pan-European STOXX 600 index .STOXX fell 0.2% after

positive German investor sentiment data and a slew of upbeat

earnings had helped it scale highs not seen since 2015 on

Tuesday.

Banks .SX7P as well as trade sensitive auto .SXAP and

mining sectors .SXPP were among the biggest decliners, along

with media-related stocks .SXMP .

Satellite company SES SESFd.PA slumped after a JP Morgan

downgrade to neutral, while German commercial broadcaster

ProSiebenSat.1 PSMGn.DE slid 2.5% after Italy's Mediaset

MS.MI said it could increase its stake in the German peer, but

ruled out a full takeover. Spanish stocks .IBEX led losses among regional peers as

investors were doubtful of a new coalition between Socialists

and far-left Unidas Podemos formed on Tuesday. The unexpectedly

fast preliminary agreement was formed between two parties that

recently refused to work together.

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