Nov 12, 2024 at 8:27 am GMT
(Reuters) -European shares opened lower amid broad-based losses on Tuesday, as markets considered the implications of U.S. President-elect Donald Trump's policies, while some downbeat earnings compounded losses.
The pan-European STOXX 600 .STOXX shed 0.9% as of 0816 GMT, with chemicals .SX4P amongst the top decliners, down 1.4%.
Basic resources . SXPP dipped 1.5% as most metal prices fell, while personal and household goods . SXQP , which houses heavyweight China-exposed luxury firms, dropped 1.3%.
Mainland Chinese equities were under pressure after data showed unexpectedly weak loan demand in October.
Also adding to worries was Donald Trump's likely choice of U.S. Senator Marco Rubio, a top China hawk, to be his secretary of state.
European equities have been under pressure as investors assessed the likelihood of tariff increases after Trump's sweeping victory last week.
Data provider Decision Desk HQ projected that Trump's Republican Party had won a majority in the U.S. House of Representatives.
Among earnings-driven losses, Brenntag BNRG n.DE eased 9.2% after the German chemicals distributor reported a 4.9% drop in its quarterly core profit, missing market expectations.
German drugs-to-pesticides group Bayer BAYG n.DE fell 12.1% after it lowered the full-year operating earnings guidance.
Reporting by Shashwat Chauhan in Bengaluru; Editing by Mrigank Dhaniwala
Sumber : Reuters
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