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European Shares Fall As Trade Optimism Wanes

(RTTNews) - European stocks fell on Tuesday, as confused signals over U.S.-China trade talks as well as a broadly weaker dollar prompted traders to unlock some profits after the previous session's strong rally.

Italy continued to be in focus after the country's Prime Minister Giuseppe Conte said the revised budget would be ready in the coming hours.

The British pound jumped after a senior EU law officer said the U.K. could halt Brexit by unilaterally revoking Article 50.

The pan-European Stoxx Europe 600 index was down 0.34 percent at 359.96 in opening deals after rallying 1 percent in the previous session.

The German DAX and France's CAC 40 index were down around 0.6 percent, while the U.K.'s FTSE 100 was losing 0.4 percent.

Falling U.S. yields on expectations of slower pace of rate hikes by the Federal Reserve pulled down financials, with banks Commerzbank, Deutsche Bank, BNP Paribas, Credit Agricole and Societe Generale all falling over 1 percent.

Danske Bank A/S advanced 0.7 percent. The Danish bank said it has built a capital buffer of as much as $2.7bn (a?¬2.38bn) to absorb potential fines in a money laundering case.

JCDecaux slumped 4.3 percent in Paris after a brokerage downgrade.

Low-cost airline Ryanair Holdings rose half a percent in London after reporting positive traffic figures for November.

Ferguson, a specialist distributor of plumbing and heating products, tumbled 3.2 percent despite the company posting solid first-quarter results.

IG Group Holdings lost 2.6 percent after the online trading company said it expects revenue in the first half to be around 6 percent lower than last year.
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