19 Views

Stocks – Dax Slips 0.22% as Caution Dominates Ahead of Fed Meeting

© Reuters.  Frankfurt Stock Exchange© Reuters. Frankfurt Stock Exchange

Investing.com – European markets slipped lower on Tuesday, as investors became more cautious ahead of the Federal Reserve’s highly-anticipated policy meeting this week, even as investors’ confidence remained globally healthy.

The EURO STOXX 50 edged down 0.15%, France’s CAC 40 eased 0.11%, while Germany’s DAX 30 slipped 0.22% by 03:40 a.m. ET (07:40 GMT).

The Fed is widely expected to leave interest rates unchanged this week. However the U.S. central bank could give indications on when it plans to begin unwinding its balance sheet, as well as on any future interest rate decisions.

Meanwhile, concerns over tensions between the U.S. and North Korea remained subdued, although they were susceptible to pick up at any moment.

U.S. President Donald Trump was set to address the United Nations General Assembly for the first time on Tuesday and Pyongyang was widely expected to be on the agenda.

The White House said in a statement that President Trump plans to call for international action to confront North Korea and Iran, which he will portray as twin threats to global security.

Financial stocks were mixed, as French lenders BNP Paribas (PA:BNPP) added 0.17% and Societe Generale (PA:SOGN) slid 0.31%, while Germany’s Deutsche Bank (DE:DBKGn) edged up 0.12% and Commerzbank (DE:CBKG) declined 0.32%.

Among peripheral lenders, Intesa Sanpaolo (MI:ISP) dipped 0.01% and Unicredit (MI:CRDI) retreated 0.34% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 0.08% and 0.14% respectively.

Elsewhere, German media company Prosiebensat 1 Media AG (DE:PSMGn) saw shares climb 0.66%, recovering from news on Monday that its video-on-demand service maxdome will not be profitable this year, contradicting earlier expectations.

In London, FTSE 100 dipped 0.05%, weighed by Paddy Power Betfair PLC (LON:PPB), whose shares plummeted 1.61% after the betting company was forced to apologize for allowing customers to bet on a dead former footballer becoming a manager.

The group briefly advertised odds of 66-1 on Ugo Ehiogu taking charge of Birmingham City, following the departure of manager Harry Redknapp over the weekend. Ehiogu died on April 20.

Coca Cola HBC AG (LON:CCH) added to losses, with shares down 1.44%. The bottling company made headlines last week when it announced that Chief Executive Dimitris Lois will be taking a temporary leave of absence.

Mining stocks were also broadly lower on the commodity-heavy index. Shares in Glencore (LON:GLEN) slipped 0.20% and Anglo American (LON:AAL) declined 0.69%, while rival company Antofagasta (LON:ANTO) tumled 1.05%.

Meanwhile, financial stocks were mostly higher as the Royal Bank of Scotland (LON:RBS) rose 0.20% and Lloyds Banking (LON:LLOY) gained 0.73%, while HSBC Holdings (LON:HSBA) rallied 0.97%. Barclays (LON:BARC) underperformed however, with shares sliding 0.35%.

Investors were also still digesting comments by Bank of England Governor Mark Carney saying that any pending interest rate rises over the coming months would be limited and gradual.

In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.04% uptick, S&P 500 futures signaled a 0.01% dip, while the Nasdaq 100 futures indicated a 0.06% slip.

sponsoredArticle = ‘div-gpt-ad-1466339494851-0’;

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Latest Posts

The heartwarming sight of dogs seeing their owners after a long time
Uncategorized
4455 views
Uncategorized
4455 views

The heartwarming sight of dogs seeing their owners after a long time

Editor - December 2, 2017

Our little friends can be so happy to see us again. It seems that seeing each other after a long time evokes the same feelings and emotions…

Unusual business ideas.. for the pet industry!
Uncategorized
7509 views
Uncategorized
7509 views

Unusual business ideas.. for the pet industry!

Editor - November 17, 2017

Are you an animal lover? We from Optionsuniversitystrategist sure are! It's amazing what that does for business, entire new industries are born this way. We know the…

Are you the boss at home? This little girl sure is!
Uncategorized
1188 views
Uncategorized
1188 views

Are you the boss at home? This little girl sure is!

Editor - November 14, 2017

This little girl knows exactly what she wants, do you know what you want as well? Haha what a laugh to see this little bosslady telling her…

In shedding bonds, Fed aims for boring end to crisis-era measures
Finance
78 views
Finance
78 views

In shedding bonds, Fed aims for boring end to crisis-era measures

Editor - October 25, 2017

© Reuters. The Federal Reserve building in Washington By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve is set on Wednesday…

Crude oil gains in Asia with Irma impact and Chinese yuan in focus
Commodities
73 views
Commodities
73 views

Crude oil gains in Asia with Irma impact and Chinese yuan in focus

Editor - October 24, 2017

© Reuters. Crude gains in Asia Investing.com - Crude oil prices gained in Asia on Monday as the impact of Hurricane Irma was not as severe as…

ITG’s Selway drops out of running for key SEC job
Politics
44 views
Politics
44 views

ITG’s Selway drops out of running for key SEC job

Editor - October 24, 2017

ITG's Selway drops out of running for key SEC job (Reuters) - Jamie Selway, the leading candidate to head the U.S. Securities and Exchange Commission's Division of…

Tax inversion deals saved U.S. companies $45 million on average: CBO
Stock
90 views
Stock
90 views

Tax inversion deals saved U.S. companies $45 million on average: CBO

Editor - October 24, 2017

Tax inversion deals saved U.S. companies $45 million on average: CBO WASHINGTON (Reuters) - U.S. companies that shifted their tax domiciles abroad, if only on paper, between…

Mnuchin says tax overhaul still in sight for 2017
Politics
148 views
Politics
148 views

Mnuchin says tax overhaul still in sight for 2017

Editor - October 22, 2017

2/2 © Reuters. Treasury Secretary Steven Mnuchin walks through the lobby of Trump Tower in New York 2/2 WASHINGTON (Reuters) - Comprehensive reform of the U.S. tax…

Trump’s antitrust pick meets with Elizabeth Warren: source
Politics
122 views
Politics
122 views

Trump’s antitrust pick meets with Elizabeth Warren: source

Editor - October 21, 2017

© Reuters. Senator Elizabeth Warren (D-MA) addresses the audience at the morning plenary session at the Netroots Nation conference for political progressives in Atlanta By Diane Bartz…

Japan firms see U.S., China economies expanding at a healthy clip
Stock
104 views
Stock
104 views

Japan firms see U.S., China economies expanding at a healthy clip

Editor - October 19, 2017

© Reuters. FILE PHOTO: Japan's national flag is seen in front of containers and cranes at an industrial port in Tokyo By Tetsushi Kajimoto TOKYO (Reuters) -…