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On Tuesday, European equities went down, having a second straight loss because telecom stocks were pressured, while market participants stepped back from risk ahead of testimony having to do with monetary policy from Fed Chair Jerome Powell.
The Stoxx Europe 600 index headed south 0.3% demonstrating 383.91. The telecom sector turned out to be the worst performer, while the basic materials as well as financial groups held to small revenues. As for the pan-European index, it rallied by 0.2%, having dived by 0.3% on Monday.
In France, the CAC 40 index went down by 0.4% being worth 5,386.30. In Germany, the DAX 30 index slumped by 0.2% demonstrating an outcome of 12,532.81. In Spain, the IBEX 35 slumped by 0.70% hitting 9,651.00.
Britain’s FTSE 100 headed south by 0.1% reaching 7,593.88.
Meanwhile, in the foreign exchange market, the currency pair EUR/USD headed south to $1.1705 in contrast with Monday’s outcome of $1.1712 demonstrated in New York.
European equities headed south because the trading marathon wore on, suppressed mostly by a dive in telecom shares. The Stoxx Europe 600 Telecommunications Index went down by 1.7%, finding itself on track for its worst trade for two months and also quite in line for a seventh straight dive. Divers were also represented by Telenor ASA right after Norwegian company came up with financial outcomes and its counterpart, Telia Co. which made a $2 billion acquisition deal having to do with spurring Telia’s business in Norway.
European shares in general inched down along with American stock futures before Fed Chair Powell starts his testimony prior to the Senate Banking Committee. The US key financial institution has uncovered its plans to have interest rates lifted at least two times this year, and market participants are going to watch for evident signs of confirmation of this stance from Powell.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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