No Fed boost for European stocks as banks fall; chipmakers shine

- European stock markets opened lower on Thursday, as the impact on banks of an accommodative policy message from the U.S. Federal Reserve outweighed any broader lift to sentiment from its abandoning of further interest rate hikes this year.

Germany’s DAX led with a 0.5 percent fall, weakened by a 1 percent loss for bank stocks, which tend to suffer when expectations for future interest rates fall. EssilorLuxottica’s shares slumped to the bottom of the CAC 40 and the STOXX 600 on new tensions in its boardroom as the top shareholder and executive chairman accused the Franco-Italian group’s executive vice chairman of a power grab.

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