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European stocks snap three-day rally

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stock markets across Europe snapped a three-day winning streak after Yellen hinted at a possibility of a rate hike in December.

    The pan-European Euro Stoxx 600 index weakened 0.2% to trade around 379.40 levels. Among regional indices, Germany’s DAX lost 0.20% and London’s FTSE shed 0.67%. France’s CAC managed to post moderate gains.

    Shares in Credit Agricole SA dropped 4.3% after its net income fell at its corporate and investment bank. Adecco lost 8% after the world’s largest provider of temporary staffing trimmed its profit margins.

    The FTSE is the worst performing major stock market today as investors are worried the Bank of England would follow the Fed and hint at a rate hike in Q1. Governor Mark Carney will also hold his final Inflation Report press conference of the year.
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