European equities ended trading lower


The composite index of the largest enterprises in the region Stoxx Europe 600 at the end of trading decreased by 1.5% and amounted to 467.24 points.

The British FTSE 100 index fell 1.5% (to a three-month low), the French CAC 40 fell 2.4%, and the German DAX fell 1.25% (to its lowest level since August 9). Italy's FTSE MIB and Spain's IBEX 35 lost 1.6% and 0.8%, respectively.

Luxury goods makers declined on news from China. Including Kering shares fell 9.5%, LVMH Moet Hennessy fell 6.4%, Hermes International fell 4.7%, Burberry Group fell 6.6%, Richemont fell 6.7%, Swatch Group fell 6.6%, Remy Cointreau fell 5.3%, Salvatore Ferragamo fell 5%.

At a meeting on financial and economic issues, Chinese President Xi Jinping said about the need to fight "excess revenues." He called on citizens and high-income companies to "give more to society", describing the goal of "shared prosperity" as "the most important requirement of socialism."

The Stoxx 600 sub-index, which includes mining companies, plunged 4.2% on the back of lower prices for iron ore and key metals. Including securities of non-ferrous metals producers Anglo American and Antofagasta fell by 4.6% and 4.5%, respectively, commodity trader Glencore - by 3.5%, steelmaker ArcelorMittal - by 6.5%.

Oil prices continue to decline, which causes a drop in stock prices for representatives of this industry. In particular, the cost of BP Plc fell by 4.9%, Royal Dutch Shell - by 3.9%.

Dutch NN Group shares fell 0.9%. The insurer announced the sale of the management company NN Investment Partners to the American investment bank Goldman Sachs for 1.6 billion euros.

The price of International Personal Finance securities decreased by 1.2%. The British credit institution announced its intention to withdraw from the secondary listing on the Warsaw Stock Exchange. The company's shares will continue to be listed on the London Stock Exchange.

Meanwhile, on Thursday, shares of the food delivery service Just Eat rose in price (+ 2.4%).

The largest gainer among the Stoxx 600 components was the shares of the Swedish air conditioning manufacturer Nibe Industrier, which jumped more than 10%.

The material has been provided by InstaForex Company -

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