Trending News

Blog Post

Market

European shares fall 1% on taper fears; commodities slump hits miners By Reuters 



© Reuters.

(Reuters) – European shares fell more than 1% on Thursday on fears of a sooner-than-expected tapering in global monetary policy, while a slump in commodity prices led mining stocks to a near one-month low.

By 0706 GMT, the pan-European was down 1.5% at a two-week low, with mining stocks slumping 4.2%. [MET/L]

Asian stocks also slid earlier in the day to their lowest levels this year as minutes published Wednesday of the U.S. Federal Reserve’s latest policy meeting gave the impression of a looming cut in its massive, pandemic-era bond-buying programme. [MKTS/GLOB]

Although the European Central Bank has so far stood pat on its own policy, rising inflation has sparked fears global central banks would start to rein in their easy money policies that have been instrumental in lifting global stock indexes to record highs.

The travel and leisure index declined 2.4% amid a surge in cases of the Delta variant of the coronavirus.

Swiss building materials supplier Geberit edged lower as it warned about rising raw materials prices after reporting a big leap in quarterly sales and earnings.

With the European earnings season nearly at the halfway mark, profit for STOXX 600 companies is expected to have surged 150% in the second quarter, the best since Refinitiv IBES records began in 2012.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Related posts

Leave a Reply

Required fields are marked *