European stocks fell on Friday, pressured by rising bond yields, and statements by US Federal Reserve Chairman Jerome Powell undermined investors’ hopes about interest rates reaching their peak.
Stock movements
The European Stoxx 600 index fell by 0.4 percent by 08:10 GMT, but it is still heading to record gains for the second week.
Officials at the US Central Bank, including Powell, yesterday, Thursday, expressed doubts that their battle to combat inflation was over, and added that they would continue to tighten monetary policy if necessary.
The markets considered these statements to be extremely hawkish, as they came after policymakers at the European Central Bank and the Bank of England resisted expectations of lowering interest rates.
Richemont shares fell 3 percent after the Swiss luxury goods group announced lower-than-expected profits, and Diageo shares fell 8 percent as the alcoholic beverage manufacturer expects that the original growth in operating profits will decline in the first half of its current financial year.
But GN Store Nord shares jumped 13.1 percent and topped the STOXX 600 index after the company announced its third-quarter business results and expectations.
2023-11-10 09:23:58
#European #stocks #fall #signal #Federal #Reserve #possibility #raising #interest #rates
