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European indexes are going down due to weak reports and continued reduction in securities price of mining companies

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European indexes are going down due to weak reports and continued reduction in securities price of mining companies

European indexes are going down due to weak reports and continued reduction in securities price of mining companies
July 19
12:30 2016

Stock indexes in Europe fell at the start of the trading session on Tuesday following the quotations of the Swedish manufacturer of the mechanical rubber goods Trelleborg. The shares of the company have fallen due to the publication of the financial reporting. The shares of the mining companies which were under the pressure due to weak metal prices have fallen, too.

Trelleborg’s shares fell in price by 5.6 percent. Among the companies of STOXX Europe 600 index Trelleborg showed the biggest decline. The main revenues of the company met the expectations of analysts’ forecasts. But at the same time the company announced an increase in the economic uncertainty. It is associated with the UK citizens’ decision to leave the European Union membership. The company expressed the cautious expectations for the future.

The securities quotations of the German producer of potash fertilizers K + S have fallen by 3.6 percent. By the beginning of the day pan-European index STOXX 600 and FTSEurofirst 300 have fallen by 0.7 and 0.8 percent respectively. They finished the previous trading session with the slight increase.

The shares of the mining companies have also lost their positions. At the same time the index of the basic resources STOXX Europe 600 fell by 2.2 per cent. It showed a minimal result among the sectoral indexes due to the falling costs of metals. The shares of Rio Tinto, BHP Billiton and Anglo American have fallen by 3-3.6 percent.

The Zalando securities showed the positive dynamics with the increased price by 17.8 percent. This happened after the online footwear and clothing trend retailer increased its profit forecast for 2016.The manufacturer published a report on the growth of pre-sales in the second quarter.

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