EURO STOXX 50 lost 3.53% in September, its worst monthly loss of the year and only the second after the 2.0% dip in January 2021. Losses were concentrated in the last two weeks of the month with 2.11% drop on September 20, and another 2.56% slip on September 28.
European shares shared fate with the global selloff as growing worries about slowing economic growth and rising inflation dented investor mood. Highlighting the index’s biggest losers in September, France’s Vivendi shed 66% of its market value after the spin-off of its Universal Music Group holding, while Spain’s electric utility company Iberdrola lost 18% during the same period as local government caps gas prices, which negatively effects the company’s profit.
ETFs tracking the EURO STOXX 50 Net Return Index lost more than 2.5% combined during September and witnessed more than 420 million in outflows.
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