European shares are being sold off in global stock markets


European shares were exposed to a wave of selling in global stock markets after the Federal Reserve (US Central Bank) indicated a long and difficult path to the recovery of the largest economy in the world.

The pan-European STOXX 600 index fell 1.2 percent, while the mining sector declined 2.7 percent due to a drop in base metals prices.

Other sectors severely affected by the economy, such as banks, automakers, and oil and gas companies, fell between 1.6 percent and 1.9 percent.

Chilean mining company Antofagasta plunged 4.3 percent after the company posted a 22.4 percent drop in core profits for the first half on lower copper sales, but said it would provide interim dividends.

Among the notable gainers, InterContinental Hotels Group jumped 2.6 percent and French Accor gained 2 percent after a French newspaper reported that the hotel operator was considering a merger.


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