European shares drop to five-week low amid Brexit jitters

(ADVISORY- Reuters prepares to replace intra-day European and UK
stock market reports with a Live Markets blog on Eikon – see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for website in advancement. See the bottom of the report for more.
details) * FTSEurofirst 300 down 0.9 pct * Markets spooked by Brexit fears * Banks, automobiles bear brunt of offering * G4S drops after Orlando shooting By Alistair Smout LONDON, June 13 A prominent European share index.
fell to its lowest level in five weeks on Monday, struck by a.
sell-off in cyclical stocks and widespread anxiousness in markets.
over a possible British exit from the European Union. The pan-European FTSEurofirst 300 index fell 0.9.
percent to 1,299.77 points, hitting its lowest since May 6 and.
extending the previous session’s 2.3 percent drop. The STOXX Europe 600 was down 0.9 percent, also at.
its most affordable level considering that May 6, having touched a two-month low in.
early offers. European shares tracked Asia lower, following a risk-off.
pattern in international markets as investors placed for main.
bank conferences this week and a mandate on Britain’s EU.

One poll out after the marketplace closed on Friday offered the.
” out” campaign a 10 point lead, though 2 subsequent surveys over.
the weekend painted a combined photo over which side will win the.
June 23 vote. Bookmakers still believe that the mandate is likely to.
result in a vote to remain in the EU, although the possibility.
of an “in” vote has actually dropped 10 percentage points from last week. Prior to then, the United States Federal Reserve, Bank of England,.
Swiss National Bank and the Bank of Japan are all anticipated to.
hold monetary policy stable versus a backdrop of caution.
increased by the Brexit concern. “We’re in uncharted territory in front of the Brexit vote,.
then there’s likewise the Fed this week. So the wall of concern is.
quite high at the minute. All the banks are a little bit lower,.
and they’re to ones which are most likely to get meetinged,” stated Zeg.
Choudhry, managing director at LONTRAD. “For the next two weeks, you’ve got to be a little mad if.
you’ve not got your money in defensive stocks.”.

Cyclical stocks – conscious financial shifts – were the.
top fallers, with the automobile and bank sectors down.
1.5 and 1.3 percent respectively. Product stocks likewise came under pressure, with miners.
down 1.3 percent and oil and gas shares down 1.
percent. Brent crude costs dipped below $50 a barrel for the very first.
time in a week, hit by a darkening economic outlook. Amongst individual movers, G4S was a top faller on the.
STOXX 600, down 6.6 percent after Sunday’s Orlando bar.
shootings. Omar Mateen, who killed 50 individuals at a jam-packed gay nightclub.
in Florida on Sunday, was employed by G4S and had gone through.
business screening in 2013 with “no findings,” G4S said Sunday.

Traders and analysts stated that it would dent G4S’ track record.
in the United States, where it generates a considerable.
percentage of its revenue. Today’s European research round-up ADVISORY- Reuters plans to change intra-day European and UK.
stock market reports with a Live Markets blog site on Eikon (see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for site in advancement). In a real-time, multimedia format.
from 0600 London time through the 1630 closing bell, it will.
include the very best of our market reporting, Stocks Buzz service,.
Eikon graphics, Reuters images, attractive research study and.
market zeitgeist. Breaking news and dramatic market relocations will.
continue to be alerted to all customers and we will continue to.
offer a brief opening story and comprehensive closing reports. If you have any ideas, ideas or.
feedback on this, please e-mail Mike Dolan, Markets Editor EMEA. (modifying by John Stonestreet).

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