Europe markets lower as investors await US-China trade details; Travis Perkins up 8% - Recent News from USA
Europe markets lower as investors await US-China trade details; Travis Perkins up 8%

Europe markets lower as investors await US-China trade details; Travis Perkins up 8%

The pan-European Stoxx 600 was down by 0.4 percent with every sector in the red. Autos were the worst performers in early deals, down 1 percent.

PSA Peugeot Citroen reported a 43 percent increase in operating income but the stock fell 3 percent amid a boarder sell-off, and as one analyst noted its operational targets were conservative.

Travis Perkins rose to the top of the index, up by nearly 8 percent. The U.K. home improvement retailer reported a higher-than-expected pretax profit, supported by its cost-cutting plan.

Standard Chartered fell 2 percent in early deals, after the bank posted a lower-than-expected net income margin.

Elsewhere, Brexit remains at the front and center of European politics. On Monday, the British opposition Labour party indicated that it would back calls for a “People’s vote” on the U.K.’s impending departure from the European Union, if Parliament vetoed the party’s alternate Brexit proposal. On top of that, sterling rose after Bloomberg reported that Prime Minister Theresa May was considering delaying the current deadline for the U.K. to leave the EU. The U.K.’s departure from the bloc is currently timetabled for March 29.

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