European Markets Under Pressure

European markets were under pressure on Tuesday as investors eagerly awaited critical news from U.S. President Donald Trump surrounding the Iran nuclear deal.

Most major European bourses closed in negative territory on Tuesday.

The FTSE 100 index was down 0.02 percent.

Germany’s DAX fell 0.29 percent.

France’s CAC-40 lost 0.21 percent.

In Italy the FTSE MIB in Milan fell 1.67 percent- Concerns over the future government saw Italian equity investors the big losers.

The STOXX 600 index fell 0.05 percent.

The worst performer was William Demant, the Danish hearing aid maker plummeting over 10 percent. Deutsche Post DHL, the German postal and logistics group missed first quarter profit predictions with its shares falling 6.7 percent.

The best performer was blue chip Unilever with a gain of 1.9 percent.

Shire in London gained 2.8 percent following the news that they had raised cash to buy Takeda Pharmaceutical for 453 billion pounds sterling ($61.50 billion).

William Hill, British bookmaker posted a 12 percent rise in profits will shares gaining 0.61 percent. They attributed the earnings to the uptick in U.S. college basketball betting, and the shock defeat of Roma against Barcelona, both of which drove profits up 12 percent.

Better than expected earnings for the first three months saw Lundbeck drug maker earnings surge more than 8 percent to the top of the European benchmark. Sources from the company said that schizophrenia and depression drugs offset older generic competition.

Markets Unnerved

Markets were unnerved and were focused on the decision by U.S. President Trump on whether to withdraw from the 2015 nuclear deal with Iran and impose fresh sanctions.

Market expectations are that the U.S. President will pull out of the agreement.

Oil prices in afternoon trade have fallen sharply with U.S. WTI and Brent falling over $3 a barrel.
President Trump is expected to announce his decision later in the day.

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