European stocks ended the session in a bearish note as Western markets are pull back

European equities

European stocks are down in the session, as gains for mining and travel shares fell short to lead the market to a 2 day winning streak.

The Stoxx Europe 600 index was down by 0.6% to end the session at 370.58, with the utility and telecom divisions contributed the most loss, while basic materials and consumer-service sectors managed to claw in slight gains.

Germany’s DAX 30 index dropped 0.7 percent in the session to trade at 12,196.50 and France CAC 40 index was also bearish, shedding 0.6% to trade at 5,109.24. Same goes for the U.K.’s FTSE 100 which was lower by 0.1% to trade at 7,168.01.

The volatility that has put pressure in major stock markets into a compromised position crept back into the European markets, which indicates that investors are still wrestling with concerns about a rising inflation and higher bond yields.

In the U.K., annual inflation remained at 3% in January, compared with estimated reading of 2.9%. Inflation is well above the Bank of England’s target of 2%.

The U.S. stocks climbed on Monday, but that was after the Asian markets was found at a loss for Japan’s Nikkei Average, while Hong Kong’s stocks surged by 1.3% as the U.S. Stocks initially fell in the opening of this week’s market session.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *