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Stock price information reflected in a window of the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023.
Nathan Laine | Bloomberg | Getty Images
European markets fell on Tuesday as the positive momentum of recent days faltered.
The pan-European Stoxx 600 was down 0.64% at 12:15 pm London time, with all major exchanges and most sectors in the red. Mining stocks lost 2.3%, while utilities were the biggest gainers, adding 0.5%.
Banking stocks fell 2.1%, with Italy’s UniCrédito and Spain BBVA both losing more than 4% as investors await the European Central Bank’s latest decision on interest rates later this week.
Actions of MaerskMeanwhile, it rose to the top of the benchmark index, adding 2.1% before falling slightly after the Danish shipping giant raised its full-year profit forecast due to strong market demand and continued disturbances in the Red Sea. .
The ECB is widely expected to cut interest rates for the first time since 2019 when policymakers meet on Thursday, but investors will be watching to see if a slight above expected The euro zone inflation print released on Friday will affect the bank’s next decision.
As far as the data is concerned, German unemployment rose more than expected in May, undermining hopes of a recovery in Europe’s largest economy. The number of unemployed increased by 25,000 in seasonally adjusted terms, the Federal Labor Agency he said Tuesday, above the 10,000 number predicted by Reuters.
Stay overnight in the Asia-Pacific region Tuesday, Indian stocks fell, sending regional markets tumbling as the country began counting votes for the 2024 general elections.
The world’s most populous country began counting votes at 8 a.m. local time, with Prime Minister Narendra Modi projected to win a rare third consecutive term according to exit polls.
US stock futures little changed Monday night as Wall Street tried to find its footing after an uneven start to the month.