European shares drop on growth fears, London slides on fresh Brexit drama

The FTSE 100 index slipped 0.5%, the largest drop  across European regions. UK Prime Minister Boris Johnson's
02 Oct, 2019
  • The FTSE 100 index slipped 0.5%, the largest drop  across European regions.
  • UK Prime Minister Boris Johnson's talks with Brussels as he prepares to unveil his final Brexit offer later in the day.
  • European companies looked set for their worst quarterly earnings in three years as revenue drops for the first time since early 2018.

The FTSE 100 index slipped 0.5%, the largest drop  across European regions and ahead of UK Prime Minister Boris Johnson's talks with Brussels as he prepares to unveil his final Brexit offer later in the day.

Investors were still reeling from the shock of dismal U.S. and euro zone factory data on Tuesday, which saw the pan-European STOXX 600 index and the euro zone index  log their biggest one-day drop in two months.

Adding to investor anxieties, European companies looked set for their worst quarterly earnings in three years as revenue drops for the first time since early 2018, according to the latest Refinitiv data.

The STOXX 600 index fell 0.3% by 0709 GMT, with the food & beverage index clinging to gains as shares in French spirits maker Pernod Ricard rose 2.1% after Jefferies upgraded the stock to "buy".

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