GLOBAL MARKETS-Europe stocks rally wanes on trade woes, earnings jitters [Reuters]
VALEO SE S/ADR (VLEEY)
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Source: Reuters
Europe stocks rally wanes on trade woes, earnings jitters - Reuters 5 Min Read LONDON (Reuters) - Europe’s early stocks rally faded and global bond yields rose after jitters over corporate earnings and trade doused an early rally fueled by enthusiasm over Federal Reserve Chairman Jerome Powell cementing rate cut expectations. The pan-European STOXX 600 struggled to cling onto 0.1% gains after losing 1.4% over the past four sessions with Germany’s DAX and Britain’s FTSE down 0.1% while France’s CAC hovered just in positive territory. The automotive sector felt much of the pressure with large-cap car parts suppliers Valeo and Continental tumbling more than 2% following a slew of warnings by small-cap auto and industrial suppliers . [.EU] [LIVE/] European markets had rallied initially after Powell, in his first day of testimony before Congress on Wednesday, confirmed the U.S. economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war, and
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