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European stocks retreat as media shares fall and Fed fears return

European stocks fell on Thursday, with media stocks pressured by declines in British education group Pearson, while data that suggested tight working conditions in the United States fueled fears that the Federal Reserve will keep interest rates higher for longer. time.

The pan-European STOXX 600 index closed down 0.20% at 439.33 points, after rising more than 3% in the first three sessions of 2023.

It was also the first time this week that European stocks fell in line with their Wall Street counterparts after data showed the number of Americans filing new jobless claims fell to a three-month low in last week, which highlights the resilience of the US labor market.

Another report showed that US private sector payrolls rose by 235,000 jobs last month, after rising 182,000 in November, while economists had expected an increase of 150,000 jobs in the private sector.

Minutes from the Federal Reserve’s December meeting showed that policymakers were concerned about a “misperception” in financial markets that their commitment to fighting inflation was waning, although they agreed that the central bank should reduce the pace of its policy tightening. monetary policy.

European media shares lost 1.5%, with Pearson down 5.9% after Bank Of American Research downgraded its shares from “neutral” to “underperforming”.

Retail stocks rose 2.1%, with a 6.9% jump in British clothing retailer Next, which led gains after posting better-than-expected fourth-quarter sales and raising its 2022 profit forecast. 23.

  • In LONDON, the Financial Times index advanced 0.76%, to 7,642.69 points.
  • In FRANKFURT, the DAX index fell 0.34% to 14,441.13 points.
  • In PARIS, the CAC-40 index lost 0.20% to 6,762.92 points.
  • In MILAN, the Ftse/Mib index lost 0.16% to 24,821.86 points.
  • In MADRID, the Ibex-35 index increased by 0.56%, to 8,607.60 points.
  • In LISBON, the PSI20 index gained 0.16% to 5,876.05 points.

Source: CNN Brasil

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