By Ambar Warrick and Sruthi Shankar
(Reuters) – European equities closed unchanged on Wednesday, as losses in the Italian utilities sector outweighed gains in travel stocks and banks, as global markets fluctuated in limited ranges ahead of the Federal’s monetary policy update Book this week.
The pan-European STOXX 600 index closed down 0.01% at 471.84 points after a record close on Wall Street on Tuesday. The European benchmark itself was less than 1% below its record high.
Leisure and travel stocks rose 1.8% to their highest level in nearly two weeks, while bank stocks also rose 1.8%.
The utilities sector posted the worst performance for the session, retreating 0.8%, with Italy’s Terna, Snam and Italgas leading losses after brokerage RBC took a more negative stance on its expectations of future returns.
German stocks fell 0.3%.
An index tracking German business sentiment fell for the second month in a row in August, as companies took a bleaker view of the coming months due to rising Covid-19 cases and supply bottlenecks, an Ifo survey showed.
A Reuters poll of 18 strategists predicted strong corporate results will keep European equities around current record levels for the rest of 2021, while concerns over tightening US monetary policy, German elections and Chinese regulatory crackdowns will limit gains.
In LONDON, the Financial Times index rose 0.34% to 7,150 points.
In FRANKFURT, the DAX index fell 0.28% to 15,860 points.
In PARIS, the CAC-40 index gained 0.18% to 6,676 points.
In MILAN, the Ftse/Mib index appreciated 0.12% to 26,060 points.
In MADRID, the Ibex-35 index rose by 0.32% to 8,977 points.
In LISBON, the PSI20 index devalued 0.21% to 5,350 points.
(By Sruthi Shankar in Bengaluru)
+ Until 2019, there were more people in prisons than on the Brazilian stock exchange
+ Geisy complains about social media censorship: “Instagram is chasing me”
+ Aloe gel in the drink: see the benefits
+ Nicole Bahls had already been warned about her ex-husband’s infidelity
+ Lemon-squeezing trick becomes a craze on social media
+ Chef playmate creates aphrodisiac recipe for Orgasm Day
+ Mercedes-Benz Sprinter wins motorhome version
+ Anorexia, an eating disorder that can lead to death
+ US agency warns: never wash raw chicken meat
+ Yasmin Brunet breaks the silence
+ Shark is captured in MA with the remains of youngsters missing in the stomach