European stocks fall to most affordable level in around 4 months

(ADVISORY- Reuters plans to replace intra-day European and UK
stock market reports with a Live Markets blog on Eikon – see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for website in advancement. See the bottom of the report for more.
details) * FTSEurofirst 300 and STOXX 600 near 4-month lows * UBS and Credit Suisse fall on SNB capital caution * Deutsche Bank shares briefly touch brand-new record low By Sudip Kar-Gupta LONDON, June 16 European stocks fell on.
Thursday, with local equity indexes dropping towards their.
most affordable level in nearly 4 months as issues remained over.
Britain’s vote next week on its European Union membership. The pan-European STOXX 600 index fell 1.4 percent,.
while the European FTSEurofirst 300 index decreased 1.3.
percent. Both those indexes were near four-month lows and resumed a.
losing streak after markets rebounded slightly on Wednesday. Shares in UBS and Credit Suisse fell more.
than 2 percent, after the Swiss National Bank (SNB) said those.
2 banks would likely each need to raise an extra 10 billion.
Swiss francs ($ 10.4 billion) in capital to meet brand-new take advantage of.
requirements. Other European bank stocks also underperformed, with.
Deutsche Bank briefly touching a record low as it.
fell 2.2 percent.

The SNB said a possible British exit from the European Union.
in the vote next week, called “Brexit”, was a significant global.
financial risk, echoing a comparable view from the United States Federal.
Reserve late on Wednesday. Although guaranteeing probabilities still point to Britain choosing to.
stay in the EU, opinion polls have shown growing support for the.
” Leave” project backing a Brexit. “Brexit is ending up being a lot more likely than at first.
anticipated and the marketplace is certainly becoming more afraid. It is.
quite a binary occasion and until then purchasing dips and selling.
rallies appears the reasonable concept,” said Hampstead Capital hedge.
fund supervisor Lex Van Dam. European stocks likewise tracked comparable weakness on U.S. and.
Asian markets.

U.S. stocks fell on Wednesday, with the UNITED STATE Federal Reserve.
having lowered its financial development forecast and signalling it.
still prepared two rate increases this year, despite the fact that the Fed.
postpone an immediate rate hike. Fed Reserve Chair Janet Yellen acknowledged that Britain’s.
possible exit from the European Union was one of the consider.
the current rate choice, stating the June 23 mandate would.
have “effects for economic and monetary conditions in.
international financial markets”. The Fed’s choice to keep rates on hold pushed up gold.
costs, with shares in gold miner Randgold rallying 3.3.
percent. Gold is a non-interest bearing asset, and its relative.
appeal is enhanced when the Fed chooses against raising rates,.
while its safe-haven status is enhanced in times of economic.
unpredictability. Some traders saw the rising gold price as another indication of.
mark worries such as those over Brexit.

” The rising gold price is another one of the flashing red.
light signals showing up on the marketplace,” stated Rupert Baker, a.
European equity sales executive at Mirabaud Securities. Today’s European research round-up ADVISORY- Reuters prepares to replace intra-day European and UK.
stock market reports with a Live Markets blog on Eikon (see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for site in development). In a real-time, multimedia format.
from 0600 London time through the 1630 closing bell, it will.
consist of the very best of our market reporting, Stocks Buzz service,.
Eikon graphics, Reuters images, eye-catching research and.
market zeitgeist. Breaking news and dramatic market moves will.
continue to look out to all customers and we will continue to.
offer a short opening story and extensive closing reports. If you have any ideas, ideas or feedback on this,.
please e-mail Mike Dolan, Markets Editor EMEA.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *