Second day of selling for STOXX
STOXX 600 down 0.2%
Travel, real estate biggest fallers
Oil stocks rise
Bond yields surge
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
SECOND DAY OF SELLING FOR STOXX
The STOXX 600 .STOXX is on track for its biggest two-day drop in nearly six weeks, down 0.5% as traders keep an eye on rising euro zone bond yields and digest a cloudier outlook for the Fed's path to rate cuts.
Oil and gas stocks .SXEP are the only sector in positive territory, and by quite some margin, up 0.7% as they rise in line with higher crude prices and after the FT reportedConocoPhilips COP.N is in advanced talks to buy Marathon Oil MRO.N.
The biggest faller of the index is Ocado OCDO.L, down 5.6%. The British online grocer is a candidate for deletion from the FTSE 100 and inclusion in the mid-cap FTSE 250 .FTMC as part of the upcoming quarterly review, index provider LSEG said on Tuesday.
Also falling is German takeaway delivery company Delivery Hero DHER.DE after MS cut the stock from "equal-weight" from "overweight".
A rare riser is Royal Mail's parent company International Distributions Services IDSI.L which is up 2.8% after agreeing to a 3.57 billion pound ($4.55 billion) formal takeover offer by Czech billionaire Daniel Kretinsky.
In the UK, office rental firm IWG .IWG.L shares are off 5.5% after company's CEO Mark Dixon sold 35 million shares at an approximately 5.4% discount to Tuesday's close.
Anglo American AAL.L shares are down 1.2% after BHP Group BHP.AX said it needed more time to engage with the London-listed miner as the deadline for BHP's 38.6 billion pound ($49.20 billion) takeover bid for Anglo approaches.
(Lucy Raitano)
*****
FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS
FUTURES SIGNAL DROPS AMID MURKY FED RATE OUTLOOK CLICK HERE
SOARING YIELDS SOUR SENTIMENT CLICK HERE
US 10-year Treasury yield https://reut.rs/3X1bzvc
NASDAQ Composite Index https://reut.rs/3WW0oDX
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
