[BENGALURU] European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer and carmaker BMW tumbled, and as the European Union resisted British Prime Minister Theresa May's plea to delay Brexit. Read more at The Business Times.
[BENGALURU] European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer and carmaker BMW tumbled, and as the European Union resisted British Prime Minister Theresa May's plea to delay Brexit.
"I've stayed well clear of Bayer since the Monsanto deal," said one trader."Bad deal, making the management look like they didn't do their homework properly."Germany's benchmark stock index fell 1.6 per cent to its biggest daily drop in six weeks as BMW's 4.9 per cent fall after a profit warning also weighed.
The intensity of Brexit woes was evident in the half a percent decline of London's FTSE 100, breaking the usual negative correlation with sterling - a sign that worries about further chaos and damage to UK Inc outweigh the usual currency trades.
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