EU Retailers and Tech Under Pressure; Markets Reach Two Month Low

0

European shares fell to a two-month low on Thursday even as commodity prices stabilized. Retailers and tech firms in the EU remain under pressure, with many strategists suggesting that investors have little faith in European markets going into 2016.

The FTSEurofirst 300 remained flat on the day, reaching its lowest level since mid-October.

Volatility hit its highest level in nearly a month, causing investors to be wary of market conditions. The FTSEurofirst 300 slumped in the month of December following the announcement that the ECB will only be providing limited stimulus. The index is down 6% in December.

Aixtron (AIXG), a semiconductor company from Germany, suffered one of the biggest losses on the day, down 29.01%. The company stock went into a freefall after Sanan Optoelectronics produced its order on new generation tools. Ams AG (AMS.S) stock declined sharply on Thursday, falling 19.10% following news that the company will no longer be working with Apple Inc. (APPL).

Stabilizing metal prices helped Glencore (GLEN) stock increase 8%. The company also announced that they will be engaging in cost-cutting programs, and have released data pertaining to their debt reduction forecasts for 2016. Company stock is trading at 88.90 pounds.

Syngenta AG (SYT) stock in 5% on the day following the news that ChemChina has submitted a bid to buy the company.

Jacob Maslow is a native New Yorker with  five children. He left his payroll manager position after finding that his true passion was in writing, and has never looked back.

Leave A Reply