Arab Today, arab today european stocks diverge as fed hints at december rate hike
Last Updated : GMT 12:34:13
Arab Today, arab today
Arab Today, arab today

European stocks diverge as Fed hints at December rate hike

Arab Today, arab today

Arab Today, arab today European stocks diverge as Fed hints at December rate hike

Europe's major stock markets
London - AFP

Europe's major stock markets wobbled in opening deals on Thursday after the US Federal Reserve hinted at a possible interest rate hike in December.

In initial trade, London's benchmark FTSE 100 index of major blue-chip companies shed 0.43 percent to 6,410.11 points.

In the eurozone, however, Frankfurt's DAX 30 won 0.33 percent to 10,867.44 points, and the Paris CAC 40 edged up 0.05 percent to 4,892.88 compared with Thursday's close.

"The Fed has just created more uncertainty in the markets," said Oanda analyst Craig Erlam.

"The statement was undoubtedly more hawkish than before and put December well and truly back on the table and investors didn’t really know how to take this."

While the Fed provided an upbeat assessment of the US economy after its latest policy meeting, the news took the wind out of an advance across global markets in October, which had been supported by expectations that an interest rate rise would be delayed.

The US central bank kept interest rates at record lows but expressed faith in the outlook for the world's top economy, brushing over recent weak spots -- such as under-par jobs growth -- and focusing on what it called "solid" consumer spending and business investment.

Policymakers dropped a warning from September that the muted global economy could affect the US, even as worries mount about slowing growth in China and falling commodity prices.

Data since last month "suggests that economic activity has been expanding at a moderate pace", the statement said.

It then explicitly pointed to the possibility of a rate hike in its next meeting in December, dampening market predictions it could be held off until March.

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Arab Today, arab today european stocks diverge as fed hints at december rate hike Arab Today, arab today european stocks diverge as fed hints at december rate hike

 



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