European Economy Scared On Global Growth Concern
20
March
European shares widen their losses in mid-session Tuesday, sealed by concerns about global growth, while Wall Street is expected to decline slightly in opening.
In this context of fears about the global economy, the dollar regains its status as a safe and rose 0.2% against a basket of international currencies.
The Netherlands are in the same boat budget that countries “peripheral” to the euro area and must both reduce spending and implement structural reforms to revive an economy in recession and maintain market confidence, said Tuesday a government agency.
In Italy, Mario Monti starts Tuesday in perilous negotiations with unions on labor market reform, which he presents as a priority of his work as head of Italy.
Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke should speak during the day, one before the House of Representatives, the other at George Washington University.
In Paris the CAC 40 was down 1.19% (-42.56 points) to 3,535.32 points. In Frankfurt, the DAX yields 1.25% and London, the FTSE 1.03%. The pan-European index Stoxx 50 lost 1.08%.
The car wipes the biggest decline on Tuesday sectoral European markets, affected by fears of a slowdown in sales growth in Russia and China. The European index values car loses 3.9%, with a decline of 4.76% to 6% of Daimler and Continental. In Paris, PSA sells 4.0% to 13.21 euros, Renault 2.74% to 40.4 euros, 21.92% to 3.31 Faurecia and Valeo 3.9% to 40.04.
Compartment behind the car, the material first leaves nearly 3%. BHP Billiton, the first Global Mining, said he saw signs of “slowdown” in demand for iron ore from China.