On-going political uncertainties dragged European markets down; Investors eye Fed meeting

European shares

European stocks struggled to end on a positive note on Monday and global investors are currently watchful in the wake of the poll in U.K. They are also anticipating a Federal Reserve’s meeting this coming week.

French-Italian semiconductor and electronics manufacturer STMicroelectronics was one of the worst performers as it dropped as much as 9 percent in shares. Dialog Semiconductor was also lower by 6.7 percent while Austria Microsys (ams AG) fell more than 8.3 percent.

Stocks from banks are also near to the bottom of the European benchmark regardless of the incoming meeting from the Federal Reserve along with expectation that the U.S. central bank will incite an interest rate hike.  Investors are a little bit worried because of president Trump’s plans and the recent decline in economic figures.

European stocks benchmark, the Stoxx 600, have notched its seven-week low as it fell about 0.94 percent on Monday. Tech stocks were one of the leading decliners as it was edged down by 3.6 percent.

Meanwhile on the stateside, the Nasdaq composite touched its record highs on Friday’s opening bell but it ended 1.8 percent lower. Shares of Facebook, Netflix, Amazon, Alphabet and Apple all declined as much as 3 percent.

On the other hand, gas and oil prices were marginally higher following its drop on the previous week. Investors are anticipating one more date on global stocks as the U.S. dollar weakens. The price of U.S. West Texas Intermediate (WTI) advanced by 1.3 percent at $46.44 per barrel and Brent crude rose about 1.16 percent to finish at $48.71 per barrel.


Leave a Reply

Your email address will not be published.