Energy and material stocks the ‘worst performing groups’ in European trade

📆 15/08/2023 00:54:00
📰 SkyNewsAust

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CommSec’s Tom Piotrowski says energy and material stocks were the two “worst performing groups” in the European trade.

“Yesterday we saw the local resource sector mark down on the back of concerns around the Chinese property developer space,” Mr Piotrowski told Sky News

Australia. “That reverberated throughout the European session – we saw that in the underperformance of energy and materials stocks.” Presented by CommSec.

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Pace of producer inflation higher than market anticipatedCommSec’s Tom Piotrowski says the annualised pace of producer inflation was higher than the market anticipated, going from 0.2 to 0.9 per cent. “It pushed long- and short-term interest rates higher,” Mr Piotrowski told Sky News Australia. “As a result, stocks ran into headwinds over the course of the session.” Presented by CommSec.
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