A batch of the latest US inflation and labor market data has provided fresh evidence that the world’s largest economy is losing momentum and raised hopes that the Federal Reserve may stop raising interest rates. ‘interest.
stock movements
The pan-European Stoxx 600 index was flat, after rising 0.7% earlier in the day.
The European ‘STOXX 600’ index has moved in a narrow range in recent weeks as investors anticipate moves in US and European monetary policies, in addition to the possibility of a recession in the US following the sharp hikes in interest rates. interest and the recent troubles in the banking sector.
A European Central Bank survey showed that eurozone consumers raised their inflation expectations in March even as the rate of price increases eased and the European Central Bank continued to raise inflation expectations. interest rate.
Bayer shares posted the biggest drop in Europe’s Stoxx 600 index, falling 7.5% to their lowest one-day level in nearly two years, after the company warned that 2023 results could hit the lower scores of the target range, affected by cost increases. and lower prices of pesticides Weeds that contain glyphosate.
Energy stocks were among the hardest hit, falling 1.6% after oil prices fell.
Meanwhile, Britain’s FTSE 100 fell 0.1% after the Bank of England raised interest rates by 25 basis points to 4.5%.
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