Main European bourses closed down more than 1% on Friday as the escalation of tensions between China and US outweighed strong industry data. Beijing ordered Washington to close its Chengdu consulate, in retaliation for being forced to shut its Houston consulate earlier this week.
Meanwhile, United Kingdom and the European Union continue to go in different directions over the deal regarding their post-Brexit trading relationship as the deadline is postponed to September. EU chief negotiator Michel Barnier stated earlier the two sides are “still far away” from reaching a post-Brexit agreement.
On a positive note, the latest PMI survey suggested the Eurozone economy expanded the most for over two years, beating market expectations, led by strong growth in Germany and France.
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