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Europe: Shares slip on trade tensions

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European shares dipped in early trading on Monday as worries over a trade war between the United States and China kept investors on the edge, while cable maker Nexans plummeted after a profit warning.

[MILAN] European shares dipped in early trading on Monday as worries over a trade war between the United States and China kept investors on the edge, while cable maker Nexans plummeted after a profit warning.

By 0728 GMT the STOXX 600 was down 0.3 per cent following losses in Asia after US President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.

Among other national benchmarks, the UK's FTSE 100 was flat, while Germany's DAX declined 0.5 per cent.

France's Nexans fell 18.2 per cent after the company warned that an "abrupt deterioration" of its high-voltage activities was likely to translate into lower profits for the full year.

The warning also weighed on Italian rival Prysmian, which fell 2.2 per cent.

REUTERS

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