Sunday, 4 December 2022

European stocks little changes as markets assess interest rate ‎expectations

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European stocks opened little changed today, Thursday, after the minutes of the Federal Reserve (US Central Bank) meeting indicated a calming pace of raising interest rates, while investors await new indicators from the European Central Bank.

According to “Reuters”, the Stoxx 600 index of European shares fell 0.03 percent by 0808 GMT, amid low trading volumes, possibly due to the Thanksgiving holiday in US markets.

Wall Street closed with strong gains on Wednesday, after the minutes of the US Central Bank meeting showed that a “large majority” of policymakers agreed that “it will probably be appropriate soon” to slow the pace of interest rate increases.

‏The European Central Bank is due later in the day to publish the minutes of its October meeting, at which it raised interest rates by 75 basis points, but said it had already made “significant” progress in its bid to combat a historic jump in inflation.

Remy Cointreau fell 2.7 percent after Remy Martin cognac maker said its results for the second half of the year would reflect a return to normal consumption trends after two years of “exceptional growth”.

Elekta shares plunged 5.3 percent after the radiotherapy equipment maker warned of damage to its margins in the third quarter due to uncertainty about macroeconomic conditions and supply chain problems.

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