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Indonesia News Portal for Traders | Financial & Business Updates

16 September 2024 23:15  |

European Stocks Start Week Lower

European stocks fell on Monday, with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.2%, as investors awaited major interest rate decisions from the US Federal Reserve and the Bank of England.

The Fed is expected to cut interest rates for the first time since 2020, with a 50-bps reduction now more likely than not. Other key decisions are anticipated from the Bank of England, the Bank of Japan, and the Norges Bank.

Tech stocks dropped 1.3%, partly due to Apple's weak performance. ASML Holding (-2.4%), Hermes International (-1.4%), and LVMH (-0.8%) saw declines, while Nestle dropped 0.7% after Morgan Stanley downgraded its stock. Conversely, Novo Nordisk, SAP, AstraZeneca, and Novartis rose by 0.5% to 0.8%. Rexel surged over 8% after rejecting a preliminary acquisition proposal from QXO.

Source : Trading Economics

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