European shares meander as emerging market worries weigh

Published: September 03, 2018 16:09:24 | Updated: September 04, 2018 15:45:32

European shares opened broadly flat on Monday as worries about US trade policy and concerns over emerging markets weighed on stocks after Asian markets closed in negative territory.

At 0750 GMT, the STOXX 600 was down 0.07 per cent at 381.99 points with most major European bourses just slightly in the red.

London's FTSE 100 was the only trading centre clearly in the black with a weaker pound and the latest Brexit uncertainty providing an accounting boost for British blue chips, reports Reuters.

Italian banks were notable gainers rising despite the decision of Fitch rating agency to cut the outlook for Italy to negative on Friday.

The biggest mover was veterinary products group Dechra Pharmaceutical which sank close to 20 per cent after publishing its full year results and saying it was implementing a “hard Brexit” mitigation plan.

The best performance was posted by SMB offshore, up 8.2 per cent, after the Dutch offshore energy company announced it reached a settlement in Brazil over alleged improper sales practices.

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