European shares slip as Russian mobilization rachets up uncertainty ahead of Fed

Author of the article: European shares fell at the opening on Wednesday as Russia partially mobilizing more troops added to investors worries over U.S. Federal Reserve’s likely third straight super-sized interest rate hike later in the day. The continent-wide STOXX 600 index dropped 0.3%, with most of its sub-sectors lower. Rate-sensitive technology sector index fell…
European shares slip as Russian mobilization rachets up uncertainty ahead of Fed

Author of the article:

European shares fell at the opening on Wednesday as Russia partially mobilizing more troops added to investors worries over U.S. Federal Reserve’s likely third straight super-sized interest rate hike later in the day.

The continent-wide STOXX 600 index dropped 0.3%, with most of its sub-sectors lower. Rate-sensitive technology sector index fell 1.2%, while energy stocks gained 1% amid a rise in oil prices following the news of mobilization.

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Russian President Vladimir Putin ordered a partial mobilization of its 2 million-strong military reserves, in a significant escalation of the conflict in Ukraine. This is Moscow’s first mobilization since World War Two.

The Fed is seen raising its benchmark lending rate by 75 basis points (bps) later in the day, continuing its aggressive fight against persistently high inflation. Some traders also expect the U.S. central bank to increase rates by a full percentage point.

In a bright spot, Fortum’s shares surged 14.6% to the top of the STOXX 600, after Germany agreed to nationalize Uniper by buying its stake in the gas importer. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Chinese tourist hot spot Sanya imposes COVID lockdown
Read More

Chinese tourist hot spot Sanya imposes COVID lockdown

Author of the article: SHANGHAI — The southern Chinese resort city of Sanya imposed a lockdown on Saturday and restricted transport links to try to stem a COVID-19 outbreak that comes as some 80,000 visitors were enjoying its beaches at peak season. The curbs came into force at 6 a.m. (2200 GMT) after authorities said…
Constellation Software Inc. Announces Release Date for Second Quarter Results
Read More

Constellation Software Inc. Announces Release Date for Second Quarter Results

Author of the article: TORONTO, July 17, 2022 (GLOBE NEWSWIRE) — Constellation Software Inc. (TSX:CSU) announced today it intends to release its second quarter results on August 4, 2022. The Company’s quarterly results will be disseminated via press release and made available on the Company’s website (www.csisoftware.com) and SEDAR, after markets close on Thursday, August…
China stocks retreat as money and credit data misses expectations
Read More

China stocks retreat as money and credit data misses expectations

Author of the article: SHANGHAI — China’s blue chips closed down on Friday after scaling their highest level in more than four months in the previous session, with some investors taking profits after November money and credit data missed analyst expectations. The blue-chip CSI300 index fell 0.5%, to 5,055.12, while the Shanghai Composite Index lost…
U.S. House passes, sends to Senate assault-style weapon ban
Read More

U.S. House passes, sends to Senate assault-style weapon ban

Author of the article: WASHINGTON — The U.S. House of Representatives on Friday passed legislation banning assault-style rifles that have been used in mass shootings, sending it to the Senate where it faces likely defeat. By a mostly partisan vote of 217-213, Democrats won passage of the measure amid public anger over mass murders in…