Title: European Stocks Lower; Tech Stocks Hit by Higher Yields
Sep 28, 2021 04:24AM ET
By: AnalysisWatch
European financial exchanges withdrew Tuesday, with high-development tech stocks compelled by rising security yields, while financial backers digest the uncertain German political race and Chinese property bunch Evergrande's continuous obligation emergency.
At 4:25 AM ET (0825 GMT), the DAX in Germany exchanged 1% lower, the CAC 40 in France fell 1.5%, and the U.K.'s. FTSE 100 dropped 0.6%.
Taking off U.S. Depository yields following last week's Federal Reserve meeting have converted into more significant returns to Europe, with the yield on the benchmark 10-year German bond climbing 3 premises focuses Tuesday.
The tech area has endured as a fallout, with Logitech (NASDAQ: LOGI) stock falling 7.7%, not helped by Morgan Stanley (NYSE: MS) downsizing the Swiss organization to 'underweight' from 'equivalent weight', and ASM International (OTC: ASMIY) stock falling 3.6% notwithstanding the Dutch semiconductor provider raising its second from last quarter request consumption direction.
On the other side, financials were upheld by the increasing loan fees, with any semblance of SEB (ST: SEBa), Aegon (NYSE: AEG), ABN (AS: ABNd), Raiffeisen (VIE: RBIV), and Virgin Money (LON: VM) all exchanging at 52-week highs. Eni (MI: ENI), BP (NYSE: BP) additionally arrived at 52-week highs as oil and gas costs kept on climbing. Most striking was the 13-year-high hit by Gazprom (MCX: GAZP), ostensibly the main organization that can offer a sensibly convenient solution to the deficiency of gas in Europe.
Furthermore, EasyJet's (LON: EZJ) stock fell 3.6 after the carrier said it had gotten acknowledgments from financial backers for 93% of the new offers is sold as a feature of a 1.2 billion pounds ($1.64 billion) completely endorsed rights issue.
Back in Europe, the European Central Bank will hold its yearly examination meeting, with ECB President Christine Lagarde's discourse certain to be looked for any sign that rising energy costs are changing the bank's pondering swelling. European gas and force costs flooded to new record highs in early exchange on Tuesday.
In front of that, the generally watched German GfK customer feeling information showed an unexpected ascent in trust in October, to +0.3 from a modified - 1.1 the earlier month.