European markets were lower on Wednesday, as investors gauge the global economic outlook and await the minutes from the U.S. Federal Reserve’s latest monetary policy meeting.
The pan-European Stoxx 600 index closed 0.3% lower, with most sectors recording declines. Mining stocks dropped 2.1% and banks fell 1.6%, while media stocks gained 1.4%.
EUROPEAN MARKETS
TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
---|---|---|---|---|
.FTSE | FTSE 100 | 7930.63 | -47.12 | -0.59 |
.GDAXI | DAX | 15399.89 | 0 | 0 |
.FCHI | CAC 40 Index | 7299.26 | 0 | 0 |
.FTMIB | FTSE MIB | 27101.53 | -307.81 | -1.12 |
.IBEX | IBEX 35 Idx | 9172.7 | 0 | 0 |
European markets eased by 0.2% on Tuesday, while U.S. stocks had their worst day of the year so far, amid fears that the Fed will keep rates higher for longer than previously thought.
U.S. stocks wavered on Wednesday, as the market struggled to recover from its worst day of the year. Traders also braced for the Federal Reserve’s latest meeting minutes and for more insight on the central bank’s future hiking agenda.
Asia-Pacific markets were lower on Wednesday after Wall Street’s sharp losses overnight, and New Zealand’s central bank continued to hike its benchmark interest rate
15 HOURS AGO
Shares of Allfunds spike 20% on takeover reports
Shares of Allfunds Group jumped 20% in early afternoon trade on a Bloomberg report that Euronext is exploring a takeover of the Dutch-listed fund distribution firm.
The report suggests the takeover offer is for 5.5 billion euros ($5.9 billion) in cash and stock.
In response to the speculation Euronext confirmed it has submitted an indicative offer to the Allfunds board. Euronext did not mention any further details of the offer in its press release.
U.S. stocks open slightly higher
U.S. stocks opened slightly higher on Wednesday as Wall Street braced for the Federal Reserve’s latest meeting minutes and more insight on the central bank’s future hiking agenda.
The Dow Jones Industrial Average added 57 points, or 0.2%. The S&P 500 and Nasdaq Composite rose 0.2% and 0.4%, respectively.
This article was originally published by CBNC.