European markets dip, taking cue from Asian nervousness

LONDON: European shares dipped on Monday after markets in Asian again suffered from investor nervousness over fast-rising interest rates in the United States and its trade dispute with China.

The pan-European STOXX 600 was down 0.1 per cent by 0819 GMT, with most European bourses in negative territory.

The US mid-term elections were expected to add some tension to the markets while in Europe, hopes of a breakthrough in Brexit negotiations kept traders on their toes.


Results from the European banking stress tests were calmly received and the sector was down 0.3 per cent.

Lloyd's of London underwriter Hiscox posted the worst performance, falling 7.4 per cent after warning that growth could moderate over the rest of the year.

Telenet lost 5.6 per cent after a rating downgrade from Bank of America Merrill Lynch.

Siemens Healthineers rose 3 per cent after forecasting higher earnings for next year and posting fiscal fourth-quarter profit above expectations.