European stocks lower, affected by German Immobilien decline

European shares opened lower today, Thursday, with German real estate company LEG Immobilien falling to the bottom of the Stoxx 600 index due to the suspension of dividends, while investors are worried about continuing to raise interest rates for a longer period.

According to “Reuters”, LEG Immobilian shares plunged 10.6 percent in early trading, with the company suspending dividend payments after announcing the results for the full year.

The Stoxx 600 index fell by 0.4 percent, affected by the decline in real estate stocks by 1.7 percent.

The decline in European stocks came after it closed higher in the previous session, likely supported by the statements of Federal Reserve Chairman (US Central Bank) Jerome Powell regarding the failure to reach a decision yet on the amount of the increase in interest rates this month.

But fears persisted after stronger-than-expected US data fueled views that the Federal Reserve could continue to raise interest rates.

Mining stocks fell 2 percent after copper prices fell, with the dollar approaching a three-month high.