country flagالعربية
0

European shares closed lower as tensions continued in Turkey

2018-08-14 04:36 pm | Resource: News | No Views : 84



European markets ended the session lower in most major European indexes on Tuesday as investors continued to focus on tensions between the United States and Turkey. Ankara has pledged to boycott US electronic and construction products as a result of a "frank economic attack" from Washington.

Earlier, the United States doubled tariffs on Turkish steel and aluminum imports and banned the sale of F-35 fighter jets to Turkey. Market observers also absorbed GDP and industrial production figures from the eurozone.

In the first reaction of the Turkish government to the United States, the Turkish Ministry of Environment and Urbanization announced on Tuesday that it would boycott US building materials. Ankara has reached this decision as a result of the "speculative moves of the US dollar" which caused an economic "blockade" in Turkey, Minister Murad Kurum said.

Merkel pointed to the integration of the euro zone budget with the EU budget

German Chancellor Angela Merkel said on Tuesday that the European Union may move towards integrating the budget of members of the euro area into the EU's common budget. In that case, there would be a need for further parliamentary oversight of Euro-zone finance ministers, as well as additional resources for their work. Merkel also pointed out that the time is not yet appropriate to take into account the position of the European Finance Minister Joint.

Merkel will meet Russian President Vladimir Putin this weekend to discuss the construction of the Nord Stream 2 project, which has now stalled because of strong opposition from Washington.

Plans to integrate the eurozone budget into the EU's shared budget come amid turbulence in Turkey, whose currency has fallen sharply over the past few days. Turkish President Recep Tayyip Erdogan said earlier in the day that his country and its economy are targeted by the United States.

European shares closed
  • The FTSE 100 was down 0.40%. Antofagasta led losses as it fell 6.97% on half-year results worse than expected. Mining said its profit fell 16 percent to $ 904.2 million in the first six months of 2018.
  • The CAC 40 index fell 0.20%. The worst performing shares were Credit Agricole as it fell 1.66%.
  • The DAX index closed on a hold where it has not changed much since the opening.

The euro lost 0.47% against the dollar to sell at 1.1356 at 5:38 CET. At the same time, the lira rebounded after falling to record lows against the dollar on Monday as a result of the economic row with the United States. The greenback fell 5.04% against the Turkish currency to reach 6.5158 at 5:38 CET.


Other analysis

NASDAQ Technical Analysis 12 November 2018

Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term The NASDAQ 100 faced resistance and selling pressure around the 7210 level to retreat to the 6979 level In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area Accordingly, we expect that the NASDAQ 100 will test level of …

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.