Host of global worries drive European shares lower
August 13, 2019, 8:06 am

Host of global worries drive European shares lower

European shares fell on Tuesday, as a slew of economic and geopolitical worries compelled investors to take refuge in safe harbors. (File photo AP)

European shares fell on Tuesday, as a slew of economic and geopolitical worries including Italy and Argentina’s political uncertainty and unrest in Hong Kong, compelled investors to take refuge in safe harbors like bonds and gold.

The pan-European STOXX 600 index fell 0.3 percent by 07:15 a.m. GMT, with the bank-heavy Milan and Madrid indexes leading losses.

Markets, already reeling from fears that the United States and China may not end their bitter trade-war anytime soon, were distressed further as Argentina’s currency crashed, unrest in Hong Kong intensified and Italy’s political worries deepened.

The dour mood in general has seen bond yields dive and banks take a beating, with European lenders leading sector declines.

Corporate news was light as the second-quarter earnings season draws to a close.

Henkel shares slid 4 percent after the German consumer goods company lowered its full-year outlook for sales and earnings, but German meal-kit delivery firm HelloFresh jumped 12 percent on breaking-even for the first time since its trading debut.

Defensive plays such as real estate and healthcare were among the few sectors in the black.

Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”