Sept 1 (Reuters) – European shares dipped on Tuesday, pressured by a fresh rise in government bond yields as investors braced for higher interest rates. <\/p>\n
The pan-European STOXX 600 slipped 0.2% to a more than \u200cone-week low by 0815 GMT. <\/p>\n
Britain’s FTSE 100 fell 0.5% as trading resumed after Monday’s bank holiday \u200cwhile Germany’s DAX slipped 0.5% and France’s CAC 40 gained 0.2%. <\/p>\n
Global bond yields hit major new highs as renewed fighting in the Middle East \u200blifted oil prices and stoked concerns about rising inflationary pressures. Germany’s 30-year government bond yield rose to a fresh 15-year high, while France’s 30-year yield climbed anew to touch its highest since 2008. [GVD\/EUR] <\/p>\n
European natural gas prices have surged in recent days, with the benchmark Dutch and British wholesale gas prices rising after the first exchange of direct attacks between the United \u200cStates and Iran in a month renewed \u2060fears about even more prolonged supply disruption. <\/p>\n
The surge in energy prices as well as hawkish remarks from Federal Reserve Chair Kevin Warsh last week have prompted investors to price in \u2060interest rate hikes from major central banks. Traders expect the European Central Bank to hike rates by 25 basis points as early as next week, LSEG data showed. <\/p>\n
“In our interpretation, this still falls into the ‘insurance’ hike classification, but further tightening from there \u2013 \u200bwhich \u200bis widely priced in by markets \u2013 would instead imply that \u200bthe ECB sees restrictive policy as necessary, a \u200cmuch bolder move unless data shows a core inflation uptrend,” ING analysts said in a note. <\/p>\n
Euro zone inflation figures for August, which could offer fresh clues on the interest rate trajectory, are expected later in the day. <\/p>\n
Growth in the euro zone’s manufacturing sector hit its fastest pace in more than four years in August, driven by the strongest rise in new orders since early 2022 and output expanding at a robust rate, an S&P Global survey showed. <\/p>\n
Signs of \u200ca resilient euro zone economy and strong earnings pushed the STOXX \u200b600 to a record high in early August, although the recent \u200bselloff in stocks has shaved 2% off the \u200bindex. <\/p>\n
Energy stocks in Europe rose 1.4% as Brent crude traded around $92 a barrel. [O\/R] <\/p>\n
Reckitt Benckiser Group \u200cadded 4.2% after a jury favoured the company in \u200bits trial over claims the \u200bcompany failed to warn that its products for premature babies could cause a deadly bowel disease. <\/p>\n
Shares of Air Liquide climbed 2.9% after media reports said activist investor Elliott Investment Management has built a stake in \u200bthe French multinational company. <\/p>\n","protected":false},"excerpt":{"rendered":"Sept 1 (Reuters) – European shares dipped on Tuesday, pressured by a fresh rise in government bond yields…\n","protected":false},"author":2,"featured_media":114988,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21355],"tags":[47098,47069,634,12629,47097,21376,10871],"class_list":["post-114987","post","type-post","status-publish","format-standard","has-post-thumbnail","category-reckitt-benckiser","tag-0-2","tag-0-5","tag-european","tag-monday","tag-pan-european","tag-reckitt-benckiser","tag-reuters"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117195347327675414","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/114987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=114987"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/114987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/114988"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=114987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=114987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=114987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}