European shares fall for third straight week in a row, miners worst hit
by SOURAV D | VIEW 2685
On Friday, a basket of European bourses had winded down the session with lower, as a swathe of major European stock indices had logged their third straight weekly percentage decline with basic resources and miners bearing the heaviest brunt, however a media topline that the United Kingdom had been looking to ease travel restrictions, had pared some of earlier losses. In factuality, Anglo American had been the biggest drag on regional pan-European STOXX 600 on Friday that was slumped as much as 8.1 per cent after heavy-weight US lenders such as Morgan Stanley alongside UBS had downgraded the stock, while European mining stocks were tottered just a notch shy of 8 per cent in the week over frets that China’s economic growth might be slowing amid a spike in delta cases.
European shares post weekly decline ahead of US Fed, BoE meet
Citing statistics, in the day’s European market closure, UK’s blue-chip FTSE 100 faltered 0.91 per cent to 6.963.64 and French CAC 40 shed 0.79 per cent to 6,570.19, while Frankfurt’s DAX lost as much as 1.03 per cent to 15,490.17.
Elsewhere in the Europe, Italy’s FTSE MIB muzzled 0.98 per cent to 25,709.56, while Madrid’s benchmark IBEX 35 added 0.31 per cent to 8,760.90. On the week, UK’s FTSE 100 took a hefty header of 0.93 per cent, French CAC 40 drowned as much as 1.40 per cent and Frankfurt’s DAX dwindled 0.77 per cent, while Italy’s FTSE MIB added 0.09 per cent and Madrid’s IBEX 35 gained 0.75 per cent.
Meanwhile, addressing to an upscaled investors’ caution, an IG.com analyst Beauchamp said, “If the caution we have seen this week does carry over into Monday and beyond, then the next Fed meeting provides another reason to tread carefully”.