European stock market falls after Asian
2022.12.12 03:44
European stock market falls after Asian
Budrigannews.com – As investors prepared for interest rate decisions from the U.S. Federal Reserve and the European Central Bank, which are due this week, European shares fell on Monday. Additionally, sentiment was impacted by rising COVID-19 infections in China as restrictions were eased.
At 08:05 GMT, the continent-wide index was down 0.4 percent.
After a seven-week rally, the index experienced its first weekly decline on Friday as optimism regarding China’s loosening of strict COVID-19 curbs was tempered by concerns of a global recession brought on by aggressive rate hikes.
More China criticizes new US sanctions
Following the relaxation of the restrictions, investors also focused on a rise in COVID-19 infections in China, with some China-exposed luxury companies like LVMH and Hermes International (OTC:) among the STOXX 600’s most significant drags.
However, following Microsoft (NASDAQ:), the London Stock Exchange gained 4.5 percent. as part of a deal to move its data platform to the cloud, agreed to purchase approximately 4% of the equity stake in the UK bourse operator.
Sanofi shares (NASDAQ:) SA gained 1.9% after the French pharmaceutical company announced on Sunday that it was no longer in talks to acquire Horizon Therapeutics (NASDAQ:).
