European stocks decline due to auto and real estate sectors’ ‎losses

European stocks fell on Thursday, with the real estate and auto sectors topping losses following a sharp wave of selling on Wall Street in the previous session, while investors awaited more economic data from the United States in search of more indicators on the path of global interest rates.

According to Reuters, by 0817 GMT, the European STOXX 600 index fell 0.3% and is on track to end gains that continued for two consecutive days.

In a widespread selling wave in the market, the automobile and spare parts sector led the losses and fell by 0.3%, while the real estate sector, which is highly affected by interest rates, fell by 0.6%.

The focus will now turn to the final estimates of the gross domestic product in the United States in the third quarter and the weekly unemployment claims report that will be announced later on Thursday, to find out more indications of highly anticipated decisions from the US Central Bank regarding reducing interest rates. .

As for companies, Swisscom shares fell 0.9% after a report stated that the telecommunications company is studying an offer for the Vodafone unit (LON:VOD) in Italy by the beginning of next year. The telecommunications sector index fell 0.2%

Commerzbank shares topped the STOXX 600 index and rose 2.9% after the bank received approval from the European Central Bank to buy back shares worth $656.88 million.