2023-07-06 17:10:58
European stocks
European stocks closed, Thursday, at their lowest in more than three months, as concerns regarding the implementation of more interest rate hikes negatively affected risk appetite, while shares of the Embriser Group fell following issuing discounted shares.
Fears of a longer-term interest rate hike intensified following a survey showed that the number of private sector jobs in the United States increased more-than-expected in June, indicating that the labor market remains strong, despite the rising risks of a recession due to higher interest rates.
This comes following the minutes of the US Federal Reserve meeting, which was released on Wednesday, showed that the bank agreed to keep interest rates unchanged at the June meeting, to buy time and assess the need to raise interest once more.
Meanwhile, investors are closely watching US Treasury Secretary Janet Yellen’s first visit to China on Thursday, as she is likely to focus on recalibrating relations between the world’s two largest economies, following tensions aroused by new restrictions imposed by Beijing on exports of some minerals.
Orders in the German industrial sector increased much more than expected in May, supported by large orders for ships, spacecraft and military vehicles.
price movements
And the European Stoxx 600 index extended its losses, falling 2.3 percent at the close, its lowest level since late March, while the Euro Stoxx 50 index fell by 2.9 percent.
The French CAC40 index led the declines in the region, falling 3.1 percent.
Impresser shares recorded the largest losses on the Stoxx 600 index, as it plunged 13.8 percent, following the Swedish video game group raised 2 billion crowns ($ 182 million) in a share issue aimed at institutional investors.
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