Monday, 11 December 2023

European stocks slump as industrial sector slows, interest rate ‎decisions in focus ‎


European stocks fell on Tuesday in volatile trading, as industrial stocks continued their losses for the second session in a row, while cautious investors awaited a series of central bank decisions this week.

According to Reuters, the European Stoxx 600 index fell 0.1% by 0717 GMT.

Investors are cautious before decisions related to interest rates issued by major central banks this week, including the Federal Reserve (US Central Bank) on Wednesday, the Bank of England, the Swiss National Bank, the Swedish Central Bank, and the Norwegian Bank on Thursday.

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The industrial sector fell 0.5%, with Deutsche Post shares falling 2.7%.

Kingfisher shares fell 5.2% after the European home improvement retailer lowered its annual profit forecast. But Tour Group shares rose 4.2% after the tourism company confirmed its expectations for the entire fiscal year 2023, indicating strong bookings for the summer and next winter season.