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Your email address will not be published.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
MedMen Announces Board Changes
Read More

MedMen Announces Board Changes

Author of the article: LOS ANGELES — MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier cannabis retailer with operations across the United States, today announced that David Hsu and Ed Record have been elected to the Company’s Board of Directors, effective immediately. Hsu is an expert in financial and operational…
Baker Hughes Warns of Broad Inflation After Missing Estimates
Read More

Baker Hughes Warns of Broad Inflation After Missing Estimates

Author of the article: Bloomberg News David Wethe (Bloomberg) — Baker Hughes Co. tumbled by the most in two years after warning that sales in Russia would continue to erode amid sanctions on the warring nation. The world’s No. 2 oilfield contractor has struggled to move people and equipment into Russia, one of the biggest…
Swedish Inflation at 28-Year High Tests Riksbank’s Patience
Read More

Swedish Inflation at 28-Year High Tests Riksbank’s Patience

Author of the article: Bloomberg News Niclas Rolander (Bloomberg) — Swedish inflation accelerated more than expected in November to the highest level in almost 28 years, testing the central bank’s patience for a price surge it believes to be largely transitory.  The Riksbank’s target measure, CPIF, stood at 3.6% last month, Statistics Sweden said Tuesday.…
Stocks Fall, US Futures Wobble on Economic Jitters: Markets Wrap
Read More

Stocks Fall, US Futures Wobble on Economic Jitters: Markets Wrap

Stocks kicked off the week with big gains after suffering their worst September in two decades as Treasury yields halted a seemingly endless surge, with weak US manufacturing data soothing concern that the Federal Reserve will overtighten monetary policy. Author of the article: Bloomberg News Rita Nazareth A commuter walks past a Hokuso-Railway Co. train…