Europe: Shares extend drop as slowdown fears take hold
[LONDON] Europe shares extended their losing streak on Thursday, tracking global weakness after US Federal Reserve minutes dented expectations for a rate hike in mid-September and commodities took a hit from slowdown fears.
The pan-European FTSEurofirst 300 index was down 0.6 per cent at 0713 GMT, with blue-chip indexes in London, Paris and Frankfurt down 0.4 to 0.8 per cent. "The current earnings expectations for Europe given the global growth outlook are probably too high and it may require additional action from the ECB (European Central Bank),"Deutsche Bank Managing Director Nick Lawson said in a note to clients.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Hong Kong spot crypto ETFs to start trading next week
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
Asia: Stocks rise on earnings optimism as US data approaches