European stocks fall for first session in 6 after weak German data

2019-07-05 10:44:40 GMT (

European shares fell on early trading on Friday in the last session of the week, with the first loss in the last six sessions, on marked correction and profit taking after recording in the previous session the highest level in a year, in addition to weak data in Germany.


Stoxx Europe 600 fell 0.3% by 08:14 GMT, as  the index ended yesterday's session up by 0.1%, its fifth consecutive daily gain, and the highest since July 2018.


The index is about to make its fourth weekly gain in a row, thanks to the record gains of US stocks on Wall Street, and a state of relief for the nomination of Christine Lagarde to head the European Central Bank.


Stoxx Europe fell on Friday morning, with its first loss in the last six sessions, dropping from the highest level in a year on correction and profit taking, with most major European markets and sectors in red.


The core resources and industrial companies led the falling list in Europe with falls of 1.8% and 1.5% respectively, due to falling global metal prices and weak data in Germany.


German factory orders fell by 2.2% in May, the first contraction in the last three months, below expectations of a 0.1% decline. while it rose 0.4% in April.


Euro Stoxx 50 fell more than 0.3%, while in France, the CAC 40 index dropped by 0.25%, with Germany's DAX losing 0.2%, and in London, the FTSE 100 index shed more than 0.3%.


The S&P 500 futures fell more than 0.3%, ahead of the opening of the official trading session on Wall Street, as the US financial markets return to work after a public holiday in the country on Thursday, the index rose by about 0.8% on Wednesday, the fifth daily gain in a row , and recorded a new high at 2,995.84 points.

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