European Stock Exchanges Start in Slight Decline
Telecom and auto shares led the decline, while Volkswagen cut its outlook and Airtel Africa fell 11.3% after an IPO report.
- On Friday, the pan-European Stoxx 600 index fell 1.1% to 635.45 points, erasing nearly all gains from the previous two sessions amid broad-based losses led by automobile and telecommunication shares.
- Global central banks, including the Federal Reserve and the Bank of England, announced interest rate decisions during the week as oil prices fell for a third day; energy shares shed 0.5% amid retreating crude.
- Volkswagen led automobile losses, dropping 5.6%, while Orange dipped 5.8% following a Morgan Stanley downgrade; Airtel Africa fell 11.3% as its parent flagged $11.5 billion in one-off items tied to Porsche and weak Chinese market conditions.
- Food and beverage stocks lost 1.9% as Nestle shares dipped 2.6% following reports that Russia seized control of the Swiss food giant's local assets, while London's FTSE and Germany's DAX also ended in the red.
- Market analyst Daniela Hathorn at Capital noted that next week's focus will be whether recent rate hikes represent insurance against energy-driven inflation or signal the start of a lengthy global tightening cycle.
33 Articles
33 Articles
European equities retreated at the evening session on Friday, affected by significant losses led by the car and communications sectors.
Europe's main stock indexes closed down on Friday (18), returning part of the high view on the eve, with investors taking advantage of the recent appreciation to make profits. Despite the relief in oil prices, there was a certain pressure on European debt securities yields on the performance of the stock exchanges on the eve. At the close, the pan-European index Stoxx 600 fell by 1.12%, at 635.43 points. The FTSE 100, from the London Stock Excha…
European stock markets close sharply, penalized by Volkswagen and a decline in the automotive sector. The PSI was no exception and ended Friday's session down 1.33% to 9.542.21 points, a loss of 128.90 points, following the general negative sentiment in European markets. Among the listed companies that declined the most were NOS SGPS, which devalued 2,36%, to 5,380 euros, BCP, which fell 2,24%, to 1,1760 euros, Jerónimo Martins, which lost 2,21%…
Global Market: European shares edge lower as telecom stocks weigh
European shares edged lower on Friday, with the STOXX 600 slipping 0.2% as telecommunications and food stocks weighed on the benchmark. Technology stocks rose 0.9%, limiting losses, while energy shares declined amid weaker oil prices. The index remained on track for its first weekly gain in three weeks.
CAC 40: the Paris Stock Exchange Declines, the Stock Market Scrutinizes the French Rates and Budget!
The Paris Stock Exchange is down this Friday, September 18, with the CAC 40 dropping 0.58% at around 10 a.m. Investors digested the decline in oil prices, the Bank of Japan's decision on its rates and the budget announcements of Sébastien Lecornu.
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