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“The rate environment stemming from the US and talk of raising rates has certainly been pushing the banks over recent days,” noted a trader. Elsewhere, shares in Games Workshop dipped by 10.9 per cent when it said that profits had fallen in the last six months. The business said sales had grown, but that its costs were going up due to increased prices for freight, warehouses and logistics. It also took a £15 million hit from VAT receipts following Brexit.
Italy’s second-largest bank, UniCredit, fell 1.1 per cent after reports that it was interested in bidding for Russia’s Otkritie Bank. Meanwhile, Deutsche Bank slipped 0.5 per cent after US financial investor Cerberus, which has favoured a merger of the bank and Commerzbank, divested a large chunk of its holdings in the top two German lenders.US stocks deepened losses after the Fed’s Jerome Powell said the central bank was likely to raise interest rates this year, remarks that tempered demand for risky assets and lifted bond yields.
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Stocks fall further, US yield climb unnerves investorsWorld stocks stumbled again today, while the 10-year Treasury yield hit a two-year high as bets that the US Federal Reserve could raise interest rates as soon as March led investors to pare risky assets.
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