European Stocks Reverse to 0.4% Loss as Iran Orders Near-Weapons-Grade Uranium Kept Home
Updated
Updated · CNBC · May 21
European Stocks Reverse to 0.4% Loss as Iran Orders Near-Weapons-Grade Uranium Kept Home
6 articles · Updated · CNBC · May 21
The Stoxx 600 fell nearly 0.4% by late morning in London after Iran's Supreme Leader ordered that near-weapons-grade uranium not be sent abroad, erasing earlier gains across major European bourses.
That shift undercut overnight optimism from Donald Trump's claim that U.S.-Iran talks were in their final stages; Brent rose 0.8% to $105.85 and WTI gained 1.1% to $99.24.
Eutelsat jumped 12.8%, extending its weekly rally to 22% ahead of SpaceX's expected IPO, while Generali added 2.2% after reporting an 8.1% rise in first-quarter operating profit.
Ubisoft sank about 15% after posting a 1.3 billion euro operating loss, and BT fell 2.7% despite an 8% rise in pre-tax profit as revenue dropped 4% to £19.6 billion.
Fresh economic data added pressure: the U.K.'s flash composite PMI fell to 48.5 versus a 51.6 forecast, while France's dropped to 43.5, its biggest decline in five-and-a-half years.
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