/cloudfront-us-east-2.images.arcpublishing.com/reuters/OTDI42F7UZJM5B5XSMPTCYDIAM.jpg)
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 25, 2022. REUTERS/Staff
Register now for FREE unlimited access to Reuters.com
Jan 28 (Reuters) - European shares fell as much as 2% on Friday, dragged down by auto and technology stocks, amid prospects of higher interest rates and geopolitical tensions in Ukraine.
The pan-European STOXX 600 was down 1.4%, paring some losses after falling as much as 2% earlier in the day, and on track for its fourth straight weekly decline.
Euro zone bond yields rose following the hawkish message that emerged from the U.S. Federal Reserve policy meeting earlier this week.
Register now for FREE unlimited access to Reuters.com
"There's a whole lot to make investors nervous at the moment, and today seems to be the day European markets are really waking up to what the Fed's increasingly hawkish stance will mean for all that cash sloshing around," AJ Bell financial analyst Danni Hewson said.
Russia on Friday sent its strongest signal so far that it is willing to engage with U.S. security proposals and reiterated that it does not want war over Ukraine. read more
"As we're approaching the weekend, a lot could happen in relation to the situation on the Ukrainian border and Russian troops," David Madden, market analyst at Equiti Capital, said.
"The fear is that stock markets are closed for a 48-hour period, and what happens as tensions get ratcheted up in that timeframe is a huge deal."
Technology stocks (.SX8P) were the top decliners and fell 2.1%, tracking their worst month since 2008.
Adding to the gloom, euro zone economic sentiment deteriorated in January, pulled down by a more downbeat sentiment in the industry and services sectors.
Meanwhile, France posted its strongest growth in over five decades last year, hitting 7%, as the euro zone's second-biggest economy bounced back from the COVID-19 crisis faster than expected, data showed. read more
However, the German economy, Europe's largest, contracted more than expected in the fourth quarter of last year as pandemic-related restrictions hampered activity. read more
Auto stocks (.SXAP) also led losses on the benchmark, with shares in Volvo (VOLVb.ST) falling 2.4% after the Swedish truck maker reported lower fourth-quarter core earnings and proposed a smaller-than-expected dividend. read more
Luxury goods maker LVMH (LVMH.PA) rose 1% after saying quarterly sales growth accelerated, while Signify NV (LIGHT.AS), the world's largest lighting maker, jumped 9.5% after reporting higher quarterly earnings. read more
Sweden's H&M (HMb.ST) gained 2.4% after the fashion retailer posted a bigger profit rise than expected for the September-November period. read more
Home appliances maker Electrolux dropped 5.4% after saying global supply chain issues will linger and reported a drop in fourth-quarter profit. read more
Register now for FREE unlimited access to Reuters.com
Reporting by Anisha Sircar and Susan Mathew in Bengaluru; Editing by Shinjini Ganguli and Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.
"auto" - Google News
January 28, 2022 at 09:27PM
https://ift.tt/3HcXekf
Tech, auto stocks lead European shares lower; LVMH shines - Reuters
"auto" - Google News
https://ift.tt/2Xb9Q5a
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment