European stocks fell on Tuesday as investors continued to expect an encouraging signal from the Ukraine-Russia talks as military operations in Ukraine’s largest cities in the east of the country continued unabated.
The pan-European Stoxx Europe 600 index fell 0.3% to 435.12 points, following two consecutive bullish sessions after Russian President Vladimir Putin said Ukraine was not serious about finding an acceptable solution.
At the heart of the pressure was the mining industry with a 2.1% dip amid concerns about the impact on demand of the resurgence of COVID-19 cases in China.
The oil and gas sector recorded small losses of 0.1% after the crude oil prices fell by 7%.
The German DAX closed with small losses of 0.1% at 13,917.27 points, while the French CAC 40 fell 0.2% to 6,355.00 points. The British FTSE 100 lost 0.25% to 7,175.70 points.
In the region, the Italian FTSE MIB gained 0.3%, while the Spanish IBEX 35 gained marginal gains of 0.02%.
Investors, meanwhile, are awaiting the Federal Reserve’s monetary policy decisions tomorrow, with analysts expecting a slight rise in US interest rates by 25 basis points.
The Bank of England will follow on Thursday, which is also expected to increase its interest rates by 25 basis points. making its third consecutive rate hike as part of its effort to curb inflation.
Source: Capital
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