BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell in cautious trade on Monday as investors awaited the final details of a promised trade deal between the United States and China, which is expected to be signed in January.
In an interview with Chinese state television CGTN on Saturday night, Beijing's ambassador to the U.S., Cui Tiankai, said that China will honor its phase-one trade commitments, and suggested that the U.S. live up to theirs on issues such as Taiwan.
Rising political tensions in North East Asia and air strikes in the Middle East also weighed on markets ahead of New Year holidays.
North Korean leader Kim Jong Un will give his New Year's speech on Wednesday, with all eyes on nuclear-armed Pyongyang's threat of a 'new way' after its end-of-year deadline for sanctions relief from the U.S. China's Xi Jinping is also scheduled to give a New Year's address.
The pan European Stoxx 600 dropped 0.4 percent to 418.16 after rising 0.2 percent on Friday to strike a record closing high.
The German DAX was losing 0.6 percent, France's CAC 40 index was down 0.2 percent and the U.K.'s FTSE 100 was declining 0.3 percent.
Smiths Group shares dropped half a percent. The company's Chief Executive Andy Reynolds Smith will likely step down next year after a demerger of its medical unit, the Sunday Times reported.
Domino's Pizza Group shed 0.6 percent. Its Chief Financial Officer, David Bauernfeind, died in a tragic accident on 26th December whilst on holiday with his family, the company said in a statement.
Rio Tinto lost 1 percent. The mining giant said a phased restart is now in progress across the operation at Richards Bay Minerals in South Africa.
The company expects Richards Bay Minerals to return to full operations in early January, leading to regular production in early 2020.
French eyewear firm EssilorLuxottica fell over 2 percent. The company said its subsidiary Essilor International recently discovered fraudulent financial activities in one of its plants in Thailand.
Tecnicas Reunidas climbed 4 percent. The Spanish oil servicing firm said it expects an increase in sales and operating margins in 2020.
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