Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary
       EU0009658145

EURO STOXX 50

SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Hawkish Powell comments, Omicron worries drag down European stocks

11/30/2021 | 12:25pm EST
German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) -European stocks fell on Tuesday after U.S. Federal Reserve chair Jerome Powell warned U.S. inflation may not be transitory and as worries about the efficacy of existing vaccines against the Omicron COVID-19 variant weighed on investors.

The pan-European STOXX 600 closed down 0.9%, after having fallen up to 1.6% during the session to seven week lows.

During his testimony to the Senate Banking Committee, Powell said the Fed would use its tools to cool prices, and might consider tapering bond purchases sooner than decided.

The Fed will wait for more details on Omicron before deciding on monetary policy, Powell said, raising further anticipation about the December meeting.

"Another bout of commentary from Jerome Powell over the economic and inflation risks posed by this latest COVID strain highlight how the bank still remains in position to tighten policy further if necessary," said Joshua Mahony, senior market analyst at IG.

The travel and leisure sector led losses in Europe, down 2.8%, taking monthly losses to 20.6% - the worst month since March 2020.

British airline easyJet slid 1.2% after reporting softer demand following the emergence of the Omicron variant.

Pandemic-sensitive sectors slumped last week when the variant was first detected in South Africa, wiping out roughly $2 trillion off the value of global stocks on Friday.

Capping losses on Tuesday were material stocks, rising about 0.1%.

Powell's comments also put the European Central Bank's stance back in focus, especially with German inflation hitting highest in decades. Commentary from ECB members this month showed they are still holding to the transitory inflation narrative.

The STOXX 600 lost 2.6% in November, after rising 4.6% last month.

Among stocks, video games maker CD Projekt plunged 4.6% after its profit fell significantly short of expectations in the third quarter.

Spanish fashion retailer Inditex fell 6.1% after saying that Marta Ortega, daughter of its founder, will replace Pablo Isla, who successfully led the company for a decade.

Money transfer company Wise Plc jumped 7.7%, after it lifted its full-year revenue growth forecast on Tuesday after seeing it jump by a third in the first half.

(Reporting by Sruthi Shankar and Anisha Sircar in Bengaluru; Editing by Uttaresh.V, Arun Koyyur and Alison Williams)

By Anisha Sircar and Susan Mathew


© Reuters 2021
All news about EURO STOXX 50
01/28EURO STOXX 50 Index Ends the Week 2.19% Lower at 4136.91 -- Data Talk
DJ
01/28European Bourses Track Lower on Interest-Rate Outlook, Ukraine Tensions
MT
01/27EURO STOXX 50 Index Ends 0.49% Higher at 4184.97 -- Data Talk
DJ
01/27European Bourses Edge Lower Midday on Federal Reserve Outlook
MT
01/27WeTransfer owner cancels IPO, citing market volatility
RE
01/26EURO STOXX 50 Index Ends 2.12% Higher at 4164.60 -- Data Talk
DJ
01/26European Bourses Rally Midday Ahead of US Federal Reserve Announcement
MT
01/25EURO STOXX 50 Index Ends 0.59% Higher at 4078.26 -- Data Talk
DJ
01/25'WHOSE SIDE ARE YOU ON?' : Russia war threat shakes Ukraine's faith in ties with Germany
RE
01/25European Bourses Track Higher Midday Despite Ukraine Tensions
MT
More news
News of the index components EURO STOXX 50
01/28DAIMLER : Mercedes-EQ Formula E Team starts the new season with a one-two victory
PU
01/28U.S. FAA says Verizon, AT&T can turn on more towers for 5G deployment
RE
01/28SCHNEIDER ELECTRIC : How Schneider Electric became my dream company
PU
01/28Iraq's oil deal with Total to enter 'execution phase' in Q1 2022 - INA
RE
01/28ENERGY TRANSITION : ENGIE is engaging in the debate and sharing its vision of an affordabl..
PU
01/28SAP : Rezultate T4 & A 2021 - transmis SSIF Tradeville
PU
01/28SAP SE : Barclays remains its Buy rating
MD
More news
Chart EURO STOXX 50
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Top / Flop EURO STOXX 50
LVMH MOËT HENNESSY LOUIS VUITTON SE 716.4 Real-time Quote.3.23%
FLUTTER ENTERTAINMENT PLC 132.2 Real-time Quote.2.52%
CRH PLC 44.55 Real-time Quote.1.95%
LINDE PLC 314.94 Delayed Quote.1.15%
AHOLD DELHAIZE N.V. 28.75 Real-time Quote.0.51%
BNP PARIBAS 62.78 Real-time Quote.-2.67%
DANONE 55.21 Real-time Quote.-2.80%
ASML HOLDING N.V. 566.1 Real-time Quote.-2.83%
ANHEUSER-BUSCH INBEV SA/NV 56.02 Real-time Quote.-3.18%
SAFRAN 103.94 Real-time Quote.-3.78%
Heatmap :