Stocks fall to lowest in a month after U.S. manufacturing shock sparks growth worries

Record ID: 1434671

  • Title: Stocks fall to lowest in a month after U.S. manufacturing shock sparks growth worries
  • Date: 2nd October 2019
  • Summary: FRANKFURT, GERMANY (OCTOBER 2, 2019) (REUTERS) FLOOR AT FRANKFURT STOCK EXCHANGE DAX GRAPH TRADERS IN DISCUSSION VARIOUS OF BANK SHARES TRADERS TRADER LOOKING AT SCREENS PAN ACROSS BOARD (SOUNDBITE) (German) HEAD OF SPECIALIST FLOOR EQUITIES AT ODDO SEYDLER BANK, OLIVER ROTH, SAYING (on BREXIT): "What's new is that Boris Johnson and his government offer the EU not to introduce border controls between Northern Ireland and Ireland for a transitional period of several years. But then all of Great Britain would have to leave the customs union and the bottom line is that Brussels won't accept that." VARIOUS OF TRADERS BOARD SHOWING DAX LOW OF 12,075.07 POINTS AT 1:21 P.M. (1121 GMT) (SOUNDBITE) (German) HEAD OF SPECIALIST FLOOR EQUITIES AT ODDO SEYDLER BANK, OLIVER ROTH, SAYING (on RECESSION IN GERMANY, EUROPE): "The economic experts' outlook is being lowered which very clearly means that Germany is approaching a recession, probably as early as the third quarter. Across Europe, the situation looks slightly better but there too, thumbs are pointing downwards. So we will see a recession in Europe. The question is how serious it will be." VARIOUS OF TRADERS (SOUNDBITE) (German) HEAD OF SPECIALIST FLOOR EQUITIES AT ODDO SEYDLER BANK, OLIVER ROTH, SAYING (on TRUMP): "Domestically, Donald Trump's possible impeachment surely is his biggest challenge during this presidency. I believe an impeachment is looking more and more likely although the Democrats are taking a big risk in light of the upcoming presidential elections. Should the impeachment not be convincing there is no way they will get a majority in the Senate. In that case Donald Trump would walk out of this strengthened." TRADERS BOARD SHOWING DAX LOSS OF 164.05 POINTS OR 1.34% TRADER DAX BOARD VARIOUS OF TRADING FLOOR
  • Embargoed: 16th October 2019 14:26
  • Keywords: economy Brexit Johnson trade Trump stocks recession DAX Germany shares outlook
  • Location: FRANKFURT, GERMANY
  • City: FRANKFURT, GERMANY
  • Country: Germany
  • Topics: Economic Events
  • Reuters ID: LVA001AZEN98T
  • Aspect Ratio: 16:9
  • Story Text: European shares fell to their lowest in a month on Wednesday on fears the fallout from the U.S.-China trade war is spreading to the U.S. economy and could further hurt global growth, with London stocks lagging the most.
    The pan-European STOXX 600 index was down 1.6%.
    In Frankfurt, analyst Oliver Roth of Oddo Seydler bank said the European Union was bound to reject British Prime Minister Boris Johnson's latest proposal on Brexit.
    Johnson said Britain had compromised in putting forward a proposal to try to change the so-called backstop, an insurance policy to ensure there is no return to a hard border between the British province of Northern Ireland and EU member Ireland.
    Britain would "protect the existing regulatory arrangements for farmers and other businesses on both sides of the border" while Northern Ireland would leave the bloc alongside the rest of the United Kingdom.
    Germany was heading into a recession, possibly as early as the third quarter and that the rest of Europe will follow.
    At 3:30 p.m. (1330 GMT), the DAX stood at 12,046 points, down 217 points or 1.77%.
    (Production: Andreas Buerger, Michele Sani)
  • Copyright Holder: REUTERS
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