European Stocks Steady Ahead of Fed, Oil Triggers Inflation Woes

The Stoxx 600 Index was largely unchanged as of 8:14 a.m. in London, as a rally in autos and real estate stocks were offset by a drop in industrial goods and tech. Among single stocks, Banco Santander SA shares were slightly higher after it overhauled its corporate structure as Chief Executive Officer Hector Grisi seeks to simplify the company’s operations. Societe Generale SA, meanwhile, slipped again as BNP Paribas Exane and HSBC downgraded the bank’s rating.

The recent rally in oil prices plays an important role in the current equity selloff, says Mathieu Racheter, head of equity strategy at Bank Julius Baer. “It increases the pressure on leading central banks right when they are expected to be near the end of the tightening cycle.” “Overall we still view it as a healthy short-term correction. The secular bull market is still alive,” added Racheter.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European Stocks Decline Ahead of This Week’s Central Bank ActionEuropean shares fell on Monday, following declines on Wall Street last week, as investors gear up for Federal Reserve’s rates decision.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stocks mixed as Wall Street braces for Fed meeting: Stock market news todayWall Street fixed its focus on an upcoming Federal Reserve meeting where the central bank will issue its next interest rate decision: stock market news today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street drifts and oil prices climb ahead of Fed meetingNEW YORK (AP) — Wall Street is drifting in the early going, while oil prices keep climbing and raising pressure on inflation. The S&P 500 was little changed in the first few minutes of trading Monday, coming off its second straight losing week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts ahead of Fed's next meeting on interest ratesNEW YORK (AP) — U.S. stocks edged higher as Wall Street makes few big moves in advance of the Federal Reserve’s next meeting on interest rates. The S&P 500 closed virtually unchanged Monday.
Source: SooToday - 🏆 8. / 85 Read more »