European stocks fall for second session as profit-taking continues

2019-07-08 12:09:46 GMT (

European shares fell in morning trading on Monday in the first session of the week, continuing losses for the second straight session on correction and profit taking from the highest level in a year, after strong jobs data in the US trimmed market's hopes for a US interest rate cut for more than once this year.


As of 11:14 GMT, Stoxx Europe 600 index fell 0.1% as the index ended Friday's session down by 0.7%, the first loss in the last six sessions, on correction and profit taking, after recording in the previous session the highest level in the year.


The index gained 1.4% over last week's trading session, its fourth weekly gain in a row, due to record US Wall Street gains, after a state of relief emerged in the market after Christine Lagarde's nomination for the presidency of the European Central Bank.


Stoxx Europe fell on Monday morning in the first session of the week, continuing its losses for a second straight session as correction and profit taking continued from the highest level in a year, with most major European markets and sectors in the red region.


New jobs data in the United States in June trimmed the market's hopes that the Federal Reserve will make more than a on cut in US interest rates this year, as data from the world's largest economy is on track to grow in the second quarter.


Euro Stoxx 50 index fell more than 0.1%. while in France, the CAC 40 index fell by 0.1%. with Germany's DAX shedding 0.1%. and in London, the FTSE 100 fell less than 0.1%.


S&P 500 futures fell 0.5%, and the index ended Friday's session in Wall-Street down by 0.2%, the first loss in six sessions, after hitting a new record high of 2,995.84 points in the previous session.

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