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Europe: Stocks slide as investors turn cautious before G7
[MOSCOW] European stocks followed Asian peers lower as cyclical sectors including autos and mining dropped amid trade tensions ahead of the G7 summit.
The Stoxx Europe 600 Index dropped 0.6 per cent at the open. Investors are eyeing a potentially rocky summit of the G7. President Donald Trump is set to find himself isolated from other leaders at the Quebec confab, with President Emmanuel Macron of France warning he will not sign the traditional joint statement unless progress is made on tariffs, and German Chancellor Angela Merkel promising to challenge Trump on the environment.
Vanguard FTSE Europe ETF, the biggest European equities-focused exchange-traded fund, had the worst outflow on Thursday in three months as the euro strengthened amid bets that European Central Bank officials will discuss the end of the bond-buying program at their June meeting.