(Reuters) – European stock markets fell from record highs on Tuesday, despite strong corporate profits and limited losses in hopes of an economic recovery, with investors expecting new signals from economic data this week.
The European index closed 0.2 percent lower at 482.71 points, close to its record high last week.
Insurance companies were the biggest losers as the index fell 0.8 percent.
Shares of banking stocks fell 0.9 percent, while shares of basic resource companies fell 1.1 percent as bond yields observed a decline.
In the first week of this month, the Stoxx 600 recorded gains in eight consecutive sessions and the French index and German index set new records, supported by strong corporate earnings and the European Central Bank’s compliance policy.
Investors are now waiting for inflation data in Germany and industrial output data in the region.
Retail stocks gained more in Tuesday’s session, with its index rising 1.2 percent, while the decline in bond yields helped real estate stocks rise 0.6 percent.
(Produced by Waqti Al-Alfi for the Arabic Bulletin)
Fusion Media Or anyone associated with Fusion Media will not be liable for any loss or damage resulting from reliance on the information contained in this website, including data, quotes, charts and buy / sell signals. Be fully informed about the risks and costs associated with trading financial markets, which is one of the most potentially risky investment forms.
“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”
Gold falls as fears of banking crisis ease, dollar and oil rise | economy
Will the Egyptian Pound Fall Towards the 40 Level Against the Dollar?
The Bank of England remains on high alert in anticipation of further banking turmoil