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Europe: Trade war dents European shares
[LONDON] The US-China trade war bit again on Monday, denting European stock markets after tariffs from the world's biggest economies came into force and China cancelled planned talks, triggering new fears of a protracted, costly trade dispute.
Europe's STOXX 600 fell 0.1 per cent with Germany's trade-sensitive DAX down 0.3 per cent. Autos and mining sectors, among the most dependent on smooth global trade, fell the furthest, down 0.8 to 0.9 per cent.
The leading euro zone stocks index fell 0.3 per cent, breaking its longest winning streak since 1997.
Dealmaking drove the greatest moves across sectors, with Europe's biggest pay-TV group Sky soaring after Comcast's offer won an auction for the company.
Sky shares jumped 8.6 per cent to £17.23, just below Comcast's cash offer of £17.28 a share.