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European stock gains dissipate- check out the DAX now
The early European gains are now dissipating in the first 30 minutes of trading. The FTSE 100 is actually now leading the way lower and the reason for that is all about GSK. The UK drug manufacturer is now almost 10% in the red following a potential court ruling over Zantac causing cancer. The FTSE 100 is now falling below 8,300. The DAX is lower too and the earlier news of a better reading on Spanish manufacturing (54 versus 52.2) is not holding weight right now, but we also get more of the same very shortly from Italy, then followed by France and Germany. The DAX came close to 18,700. It is now testing the 18,600 level ahead of those further PMI readings
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