Sino-Trade anxiety presses European shares down

Nov. 20- European shares hit low point on Wednesday as trade-sensitive sectors suffered from US President Donald Trump’s latest statement of imposing higher tariffs on Chinese good if trade pact signing ambiguity continued.

Trade-dependent shares of Germany and France sunk down with 0.7% loss by 0819 GMT topping the decliner board among major regional indexes. In line, broader European STOXX 600 index plunged with 0.5% setback.

Trump’s recent statement of higher tariff imposition on Chinese goods if no progress was made, dragged European stocks benchmark down to its third consecutive lows. Moreover, the three negatively-ended sessions prevented Europe’s stocks from reaching its four-year peak.

British-based Kingfisher dropped with 7.7% shares placing at the bottom of STOXX 600. Such followed after inactivity and weak sales in the third quarter.

Another decliner was German payments company Wirecard with 5.6% loss as news auditor EY declined from signing off the Singapore audit of the firm for 2017 with involved anomalies.