European shares lower as BP weighs, trade tensions intensify again

This post was originally published on this site

(Reuters) – European shares were lower on Monday, with shares of oil major BP lagging, while fresh concerns about U.S.-China trade and looming U.S. tariffs on European imports added to the pessimistic mood.

Shares in BP (L:) fell 0.5%, after a report said the oil major’s Chief Executive Officer Bob Dudley is preparing to step down.

The European oil & gas sector () fell 0.4%, weighing the most on the pan-European STOXX 600 index (), which dipped 0.1%.

A report on Friday that the U.S. may limit Chinese company listings on its stock exchanges fueled more U.S.-China trade angst ahead of the critical negotiations next week.

However, a rise in German retail sales in August helped ease some worries that a recession in manufacturing would hurt consumer spending in Europe’s top economy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.