PARIS (dpa-AFX) – Major European equity markets fell again on Monday, extending the previous day’s losses as traders worried about the prospect of interest rate hikes domestically and across the pond.

Bond yields rose across Europe after a senior ECB official said more monetary tightening would be needed even if the European economy slips into recession. Traders have already priced in a 75-basis-point Fed rate hike in September, which would push rates to between 3.75 percent and 4 percent by the end of the year.

Russia’s Gazprom began three days of maintenance on Nord Stream on Wednesday, weighing on fears over the security of energy supplies.

Advertisement

Should Investors Sell Soon? Or is it worth joining AMC Entertainment?

The leading German index DAX closed down 78.48 points, or 0.61 percent, at 12,892.99 points, while the French CAC 40 was down 51.98 points, or 0.83 percent, at 6,222.28. London’s FTSE is closed for the bank holiday.

In Germany, Bayer fell 4.90 percent, Heidelberg Cement 3.33 percent, Covestro 2.93 percent, Infineon Technologies 2.92 percent, RWE 2.20 percent, Continental shed 1 percent, 99 percent and Deutsche Post gained 1.2821 percent. , Deutsche Bank fell 0.87 percent, Siemens 0.66 percent, Deutsche Telekom 0.51 percent, Daimler Trucks 0.45 percent and the Deutsche Börse fell 0.06 percent.

In France, ENGIE fell 4.33 percent, Accor 2.08 percent, Sodexo 2.05 percent, L’Oreal 1.67 percent, Veolia Environment 0.97 percent, Societe Generale 0.81 percent, Sanofi 0.59 percent, Compagnie de Saint-Etienne 0.8 percent. Vivendi and BNP Paribas shed 0.20 percent each, while Credit Agricole shed 0.01 percent.

Advertisement

Get Free PDF Report on AMC Entertainment: Free Download Here

Sweden’s economy grew more slowly than initially estimated in the second quarter, while retail sales fell for a third straight month in July, Statistics Sweden said on Monday. Gross domestic product rose 0.9 percent sequentially in the June quarter after a revised 0.2 percent increase in the March quarter. The reading for the second quarter was revised up after initially reporting a 1.4 percent increase on July 28. According to the first estimate, GDP contracted by 0.8 percent in the first quarter.

Retail sales in Ireland fell for the third straight month in July, figures from the Central Statistics Office showed on Monday. Retail sales volume fell 1.6 percent in July, the same rate as in the previous two months.

Consumer confidence in Finland improved in August for the first time in three months, while industrial sentiment continued to deteriorate, separate survey results showed on Monday. The consumer confidence index rose to -14.9 in August from -15.9 in July, the lowest reading in all measurement history, Statistics Finland said.

Manufacturing in Austria entered contraction territory in August for the first time in two years, S&P Global survey results showed on Monday. UniCredit Bank Manufacturing PMI fell to 48.8 in August from 51.7 in July. The index entered contraction territory below 50 for the first time since June 2020.

Copyright(c) 2022 RTTNews.com. all rights reserved

Copyright RTT News/dpa-AFX