European stock market declines due to energy carriers
2022.12.06 03:53
European stock market declines due to energy carriers
Budrigannews.com – Fears that the Federal Reserve might maintain its aggressive rate hike strategy fueled Tuesday’s decline in European shares, which were pushed lower by financials and energy stocks.
The region-wide index lost 0.1%, marking the third session of losses in a row.
In the hope that signs of a cooling inflation would permit the Fed to slow the rate at which it raises interest rates, the index has gained seven straight weeks.
However, solid labor data last week and a report on Monday that showed an unexpected uptick in U.S. services industry activity in November have provided additional evidence of economic resilience and dented sentiment.
Banks and energy stocks both declined by 0.6 percent. However, gains in consumer staples like Nestle and Unilever (NYSE:) offset losses. Plc.
Aeroports de Paris (ADP) is one of the individual stocks that reported Royal Schiphol Group’s sale of its remaining stake in the French airports company. ADP’s stock dropped 13.3%.
