European markets close lower amid uncertainty over rate cut outlook; Equinor down 8%
Publishing timestamp: 2024-02-07 11:52:10
Summary
The European markets retreated due to uncertainty over rate cut outlook. The pan-European Stoxx 600 closed lower, with most sectors in negative territory. Equinor's shares fell after announcing a reduction in cash payouts to shareholders. Doubts over interest rate cuts have arisen after comments from the U.S. Federal Reserve Chair. Asian markets were mostly higher, while U.S. stocks opened higher. European stocks closed lower, with telecoms and mining sectors leading losses. German tank gearbox manufacturer Renk saw a jump in shares following its debut on the Frankfurt bourse. U.K. homebuilder Barratt Developments fell after announcing a deal to buy Redrow. German software company TeamViewer rose after reporting higher-than-expected revenue. The Nikkei 225 index could surge over the next two years, according to an advisor.
Sentiment: MIXED
Tickers: EQNR-NO, .FTMIB, .IXIC, .FCHI, .DJI, RDW-GB, BDEV-GB, .GDAXI, .N225, .SPX, .STOXX, .FTSE,
Keywords: united states, japan, stoxx 600, equinor asa, earnings, business news, breaking news: europe, jerome powell,
Source: https://www.cnbc.com/2024/02/07/european-markets-live-updates-stocks-news-data-and-earnings.html