Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary


SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Eurostoxx 50 : European shares deepen losses after hawkish Fed comments

06/18/2021 | 12:12pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) -A slide in European bank and energy stocks was exacerbated by hawkish comments from a Federal Reserve official, which also saw the STOXX 600 index snap a four-week winning streak as fears of U.S. policy tightening came to the fore.

The pan-European STOXX 600 index ended 1.6% lower in its worst day in five weeks, with bank and energy stocks leading declines. The index also dropped 1.2% this week.

Sentiment was also dented by the European Union losing its bid for speedier COVID-19 vaccination deliveries from UK drugmaker AstraZeneca, which could slow the pace of a steady vaccination campaign.

The banking sector, which typically does well when interest rates are high, plunged nearly 3% as concerns over an eventual reduction in liquidity saw investors locking in recent gains.

Fed official James Bullard said the Fed could start tightening rates by as early as late 2022, calling it a natural response to economic growth and inflation moving quicker than expected, as the United States reopens from the COVID-19 pandemic.

His comments came after the Fed signalled a hawkish tilt earlier this week, which had rattled risk-driven markets.

Commodity markets were also hit by the Fed, with European energy stocks falling 2.9% on Friday, in line with lower oil prices. [O/R]

Basic resources stocks were the worst performers this week, down nearly 8% as fears over Chinese caps on copper prices weighed. The sector had its worst week since the peak of the COVID-19 pandemic in March 2020. [MET/L]

"The market has been polarised in certain positions," said Andrea Cicione, head of strategy at TS Lombard.

"We've been very positive on financials and energy since last November and now we're seeing a reversal of that as investors scale back. But this is temporary phase; there's definitely more upside for financials and energy, which are still relatively cheap."

Germany's DAX index fell 1.8% as data showed a bigger-than-expected jump in May producer prices.

Bank of Ireland tumbled 7% to the bottom of the STOXX 600, after it announced the sale of some non-performing mortgage exposures.

Danish pharmaceutical company Orphazyme sank 44% after saying it had failed to win support from the U.S. Food and Drug Administration for its arimoclomol drug, a treatment designed for genetic disorder Niemann-Pick disease type C.

Tesco, Britain's biggest retailer, fell 4.1% as it reported a sharp slowdown in quarterly underlying UK sales growth, while car dealership Inchcape rose 3% after raising its annual profit forecast.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta, Rashmi Aich and Jonathan Oatis)

By Sagarika Jaisinghani and Ambar Warrick

© Reuters 2021
All news about EURO STOXX 50
05:14aEurostoxx 50 : European shares slip but set for sixth straight month of gains
07/29EURO STOXX 50 Index Ends 0.33% Higher at 4116.77 -- Data Talk
07/29Eurostoxx 50 : European stocks close at new highs on earnings lift
07/29STOXX EUROPE 600 : European Bourses Track Higher Midday On Earnings Season Resul..
07/28EURO STOXX 50 Index Ends 0.94% Higher at 4103.03 -- Data Talk
07/28EUROPE : European stocks rise as earnings lift sentiment ahead of Fed
07/28STOXX EUROPE 600 : European Bourses Tracking Higher Midday Ahead of US Federal R..
07/28S&P/TSX COMPOSITE INDEX : BMO's Markets Wrap
07/27EURO STOXX 50 Index Ends 0.92% Lower at 4064.83 -- Data Talk
07/27EUROPE : European shares lower on China falls, Reckitt marks worst day in 18 yea..
More news
News of the index components EURO STOXX 50
06:26aALLIANZ : Gets Chinese Regulatory Nod to Open Insurance Asset Management Unit
06:19aSAP : How SAP and Deutsche Boerse Are Paving the Way to the Public Cloud for the..
06:18aBNP PARIBAS : RBC remains its Buy rating
06:16aBNP PARIBAS : Jefferies maintains a Buy rating
06:14aDEUTSCHE POST AG : Berenberg remains its Buy rating
06:09aDAIMLER : Mercedes-Benz at the Caravan Salon 2021 with ‘big' and ‘sm..
06:09aSCHNEIDER ELECTRIC : How Western Power is enabling maximum grid connections of c..
More news
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
ESSILORLUXOTTICA 160.26 Real-time Quote.4.09%
SCHNEIDER ELECTRIC SE 141.2 Real-time Quote.1.73%
KONE OYJ 70.27 Real-time Estimate Quote.0.88%
LINDE PLC 299.45 Delayed Quote.0.87%
L'ORÉAL 387.8 Real-time Quote.0.75%
TOTALENERGIES SE 36.81 Real-time Quote.-1.85%
DEUTSCHE POST AG 57.155 Real-time Estimate Quote.-2.03%
ENEL S.P.A. 7.85 Real-time Estimate Quote.-2.06%
PROSUS N.V. 74.88 Real-time Quote.-2.07%
ENGIE 11.302 Real-time Quote.-2.57%
Heatmap :