European markets close lower as investors assess monetary policy outlook; Stoxx 600 down 1%
Publishing timestamp: 2023-02-10 11:57:54
Summary
European markets closed lower on Friday as investors assess economic outlook and potential for further monetary policy tightening from U.S. Federal Reserve. U.K. preliminary fourth-quarter GDP figures showed that economy flatlined in fourth quarter to narrowly avoid recession. U.S. stocks opened lower with S&P 500 heading for its worst week in nearly two months. Barclays is subject of probe conducted by U.K. Financial Conduct Authority into British bank's suspected failings in its compliance and anti-money laundering systems. Central Bank of Russia left its key interest rate unchanged at 7.5% per annum. First Abu Dhabi Bank dispeled rumors that it is considering offer for Standard Chartered. Shares of Adidas were down 11% after company warned of 1.2 billion euro revenue loss in 2023 if it is unable to sell its existing Yeezy stock. Shares of Thule Group dropped 15% following company's fourth-quarter earnings report. Morgan Stanley has said shares of green hydrogen producer are expected to rise thanks to latest set of green subsidies in both U.S. and Europe.
Sentiment: MIXED
Tickers: .FCHI, ADS-DE, 0RVI-GB, HFG-DE, HFG-FF, .FTSE, 0OLD-GB, 37ZM-GB, SDV-FF, STAN-GB, .STOXX, SAAB.B-SE, .GDAXI, .SPX, 0R3W-GB, THULE-SE,
Keywords: cac 40 index, saab ab, s&p 500 index, standard chartered plc, hellofresh se, adidas ag, wall street, markets, banks, dax, business news, stoxx 600, thule group ab, ftse 100, investment strategy,
Source: https://www.cnbc.com/2023/02/10/european-markets-open-to-close-earnings-data-and-news.html