London Daily

Focus on the big picture.
Monday, Jun 22, 2026

European stocks close lower on waning hopes around US-China trade talks

European stocks close lower on waning hopes around US-China trade talks

European markets fell Tuesday as hopes dimmed for a positive result in high-level trade talks between the U.S. and China.
Hong Kong’s stock exchange abandons takeover bid for the London Stock Exchange Group; LSE shares slide 6%.

European markets fell Tuesday as hopes dimmed for a positive result in high-level trade talks between the U.S. and China.

The pan-European Stoxx 600 provisionally fell 0.97% by the close with construction, retail and travel stocks plunging more than 1.7% as all sectors and major bourses traded in the red.

Hopes for significant progress took a hit on Monday after the U.S. Commerce Department blacklisted 28 Chinese companies over alleged involvement in the abuse of ethnic Uighurs in China’s Xinjiang province.

Tensions between Washington and Beijing were further strained by controversy over a tweet from the general manager of the Houston Rockets in support of pro-democracy protests in Hong Kong, which was rebuked by the National Basketball Association following a furious backlash from mainland China.

Chinese state media and Tencent have suspended the broadcast of NBA preseason games in China, while Alibaba shopping sites appear to have de-listed Houston Rockets merchandise in China.

Hong Kong chief executive Carrie Lam on Tuesday refused to rule out seeking help from central government to deal with the ongoing mass protests.

U.S. stocks opened lower Tuesday which forced another leg down in Europe.

In currency markets, the pound fell sharply against the dollar Tuesday morning after several British media outlets reported that Brexit talks between the U.K. and European Union were close to breaking down. Sterling was trading down at around $1.2215 in afternoon trade.

Hong Kong’s stock exchange on Tuesday abandoned its $39 billion bid for the London Stock Exchange Group (LSE) after failing to win over the LSE board. LSE shares were down nearly 6%.

Data released before the bell on Tuesday showed a surprise increase in German industrial output for August, suggesting Europe’s largest economy may avert a recession. Output rose by 0.3% on the month against expectations of a 0.1% fall.

In terms of individual stocks, Electrocomponents was among the top performers in the Stoxx 600, climbing almost 2% after posting a strong trading update.

Germany’s Qiagen was down nearly 21% by the afternoon, slightly coming off its lowest point in three years after third-quarter sales missed expectations and the company announced that its CEO Peer Schatz will step down.
Newsletter

Related Articles

0:00
0:00
Close
UK Expands Alcohol Ban Enforcement Using Tagging Technology Ahead of World Cup
UK Invests £50 Million in Critical Minerals Supply Chain Security
UK Appoints Special Envoy on Preventing Sexual Violence in Conflict
UK Introduces Fines for Landlords of Unsafe Rental Properties
Reform UK Leads Opinion Polls as Immigration Debate Reshapes UK Politics
Police Investigate Edinburgh Attacks as Potential Hate Crimes
King Charles to Publish Personal Tax and Royal Household Financial Records
Nottingham University Hospitals Maternity Inquiry Report Set for Publication
Heat-Health Alerts Issued Across London and Southern England Amid Rising Temperatures
UK Economy Shows Pressure From Middle East Conflict Despite Modest Growth
Brexit Anniversary Reignites Debate Over UK Economic and Political Direction
UK Parliament Continues Legislative Work Amid Leadership Transition
Financial Markets Hold Steady After UK Leadership Shake-Up
Andy Burnham Enters Labour Leadership Race With Strong Parliamentary Backing
Keir Starmer Resigns as UK Prime Minister After Two Years in Office
Reform UK MP Lee Anderson to Raise Pension Concerns Over British Coal Staff Superannuation Scheme
UK Parliament to Debate Newborn Screening for Spinal Muscular Atrophy Following Public Petition
Met Office Warns of Water Safety Risks During Heatwave as Temperatures Peak in England
Treasury Increases Mileage Allowance Payments for 2026–27 Tax Year to 55 Pence Per Mile
UK Government Raises Electricity Generator Levy to 55 Percent in New Revenue Measure
House of Lords Moves Financial Services and Markets Bill to Committee Stage Amid Regulatory Scrutiny
Westminster Hall to Debate Petition on Pro-Israel Influence in UK Politics
UK Parliament Prepares for Estimates Days Debates as Backbench Business Schedule Approved
Armed Forces Bill Nears Final Stages in UK House of Commons With Military Justice Reforms
Donald Trump Comments on UK Political Situation, Citing Immigration and Energy Policy Concerns
Andy Burnham By-Election Victory Fuels Speculation Over Potential Labour Leadership Contest
UK Economy Shows Resilience but Faces Headwinds from Middle East Tensions, UK Finance Says
UK Parliament Opens Week of Debates on Net Zero, Security and Armed Forces Reform
Met Office Issues Amber Extreme Heat Warning as Temperatures Expected to Reach 35C Across England and Wales
Prime Minister Keir Starmer Faces Mounting Leadership Pressure After Makerfield By-Election Defeat
London Hotel Wins World’s Best Afternoon Tea Award at International Hospitality Guide La Liste
Court of Appeal Rules in Favour of Competition and Markets Authority in Phenytoin Drug Case
Chichester Waste Site Suspended After Environment Agency Finds Serious Fire and Pollution Risks
UK Appoints Chris Elmore as Special Envoy on Preventing Sexual Violence in Conflict
Environment Agency Fines Yorkshire Firms Nearly £470,000 for Environmental Permit Breaches
British Chambers of Commerce Says Post-Brexit Trade Deals Have Limited Economic Impact
Resident Doctors to Vote on Government Pay Offer in Ongoing NHS Dispute
UK Public Borrowing Reaches £46.3 Billion in Early Fiscal Year, Driven by Debt Interest Costs
UK Government Unveils £100 Million Package to Strengthen Fire and Rescue Response Capacity
Bank of England Holds Interest Rates at 3.75 Percent Despite Easing Inflation
Met Office Extends Amber Heat Warning as Temperatures Forecast to Reach 38C Across Southern England
Prime Minister Keir Starmer Expected to Resign Amid Mounting Labour Party Pressure
UK Government Tightens Procurement Rules to Prioritise National Security and Supply Chain Resilience
National Drought Group Reviews Water Supply Risks After Dry Spring and Ongoing Heatwave
Andy Burnham Faces Leadership Speculation After Weak Local Election Results for Labour
Charity Commission Appoints Interim Managers to Barnabas Aid Amid Financial Investigation
Government Awards £27 Million Leonardo UK Contract to Maintain Military Aircraft Fleet
Environment Agency Suspends Chichester Waste Site Permit Over Fire and Pollution Risks
Border Force Seizes Record Cannabis Shipment in Major UK Criminal Network Disruption
Lloyds Banking Group to Hire 300 Artificial Intelligence Specialists in Digital Expansion Push
×