European Daily Market Review 13.08.19

european union flags

European stocks are into recovery as traders and investors reacted to news that the U.S. has postponed further tariffs on some Chinese imports.

Henkel stock fell 7% after lowering its full-year forecast for sales and earnings on Tuesday. The German consumer goods firm blamed weaker performance at its beauty unit and decreasing industrial production.

Italy’s senate created a timetable for a vote of no confidence in its coalition government. The foremost party leaders met in the Senate on Monday but failed to settle an agreement.

Matteo Salvini, the deputy prime minister, and leader of the anti-immigration Lega party says his right-wing League party no longer supports the current alliance with the Five-Star Movement.

The luxury brand names of Coach and Givenchy, together with Versace, apologized to China for producing T-shirts that were regarded to have undermined the country’s sovereignty. The issue came because of the design in violations to Beijing’s “One China” policy.