European shares struggle as trade tension outweighs boost from Chinese central bank
London — European shares struggled on Monday as the fear of the escalating US-China trade conflict outweighed the boost to sentiment from Chinese authorities’ intervention last week to shore up its currency. Disappointing corporate earnings in the European banking sector added to the cautious start to the week’s trading. Chinese state media launched an unusually personal attack against US President Donald Trump’s trade policies on Monday, saying Trump’s trade "extortion" would not work. It also sought to reassure investors about Chinese economic strength as the months-long dispute rattles financial markets and raises deepening worries about the impact on the real economy. After an initial rise, Asian shares earlier succumbed to selling pressure, with Chinese shares sliding into negative territory. European shares were also mixed. The pan-European share index dropped 0.06% while Germany’s DAX fell 0.34% and France’s CAC 40 was virtually flat, down 0.02%. The biggest plunge in German ...
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