European shares retreated from four-year highs on Wednesday, as ambiguity over a...
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 7, 2019. REUTERS/Staff - European shares retreated from four-year highs on Wednesday, as ambiguity over a U.S.-China trade deal and intensifying unrest in Hong Kong kept investors at bay, while Spanish stocks underperformed as Madrid braced for more political uncertainty.
European indices had rallied to their highest levels in four years, just 2% short of reclaiming their record highs, on the prospects of a ‘Phase 1’ trade deal being finalised between Washington and Beijing and some better-than-expected earnings. Earnings expectations for European listed companies for the third quarter improved, but not enough for the region to escape the corporate recession it is stuck in, the latest data from Refinitiv showed.
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