Investing.com – European stocks declined on Tuesday, as markets focused on a Federal Reserve monetary policy meeting later today, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 slumped 0.28%; France’s CAC 40 fell 0.06%; while Germany's DAX was down 0.07%.
Shares in the financial sector were broadly lower ahead of the Federal Reserve’s Open Market Committee meeting later in the day.
Shares in the world’s largest global banking group BNP Paribas slumped 1.19%, Italy’s largest lender Unicredit saw shares fall 1.05%, while shares in Spain’s biggest bank Banco Santander tumbled 1.65% amid ongoing fears over the country’s sovereign debt.
Meanwhile, shares in Allied Irish Banks plunged 4.35% after the lender dropped plans to pay bonuses to top executives after Irish Finance Minister Brian Lenihan threatened to withdraw state support to the bank.
Elsewhere, shares in the airline sector advanced broadly after Credit Suisse upgraded most European airliners, citing increased air travel ahead of the holiday season.
Shares in Europe’s largest airline Deutsche Lufthansa jumped 1.85%, Air France-KLM saw shares rally 1.30%, while shares in British Airways gained 0.56%.
Meanwhile, shares in the world’s third-largest stainless steel producer Outokumpu plunged 6.21% after it lowered its fourth quarter earnings outlook, as it expected profits to be “clearly negative” rather than close to breakeven.
Rivals and the world’s largest steel producer ArcelorMittal saw shares tumble 1.04%, while shares in Germany’s largest steel maker ThyssenKrupp plummeted 1.79%.
In London, the FTSE 100 slumped 0.18% as shares in U.K. hotel and restaurant operator Whitbread tumbled 2.23% after it reported strong growth for its hotels but more muted growth for its restaurant operations.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.04%, S&P 500 futures indicated a rise of 0.03% and Nasdaq 100 futures pointed to an increase of 0.04%.
Later in the day, the U.S. was to release official data on retail sales and producer price inflation. In addition the Federal Reserve was to announce its federal funds rate.
During European morning trade, the EURO STOXX 50 slumped 0.28%; France’s CAC 40 fell 0.06%; while Germany's DAX was down 0.07%.
Shares in the financial sector were broadly lower ahead of the Federal Reserve’s Open Market Committee meeting later in the day.
Shares in the world’s largest global banking group BNP Paribas slumped 1.19%, Italy’s largest lender Unicredit saw shares fall 1.05%, while shares in Spain’s biggest bank Banco Santander tumbled 1.65% amid ongoing fears over the country’s sovereign debt.
Meanwhile, shares in Allied Irish Banks plunged 4.35% after the lender dropped plans to pay bonuses to top executives after Irish Finance Minister Brian Lenihan threatened to withdraw state support to the bank.
Elsewhere, shares in the airline sector advanced broadly after Credit Suisse upgraded most European airliners, citing increased air travel ahead of the holiday season.
Shares in Europe’s largest airline Deutsche Lufthansa jumped 1.85%, Air France-KLM saw shares rally 1.30%, while shares in British Airways gained 0.56%.
Meanwhile, shares in the world’s third-largest stainless steel producer Outokumpu plunged 6.21% after it lowered its fourth quarter earnings outlook, as it expected profits to be “clearly negative” rather than close to breakeven.
Rivals and the world’s largest steel producer ArcelorMittal saw shares tumble 1.04%, while shares in Germany’s largest steel maker ThyssenKrupp plummeted 1.79%.
In London, the FTSE 100 slumped 0.18% as shares in U.K. hotel and restaurant operator Whitbread tumbled 2.23% after it reported strong growth for its hotels but more muted growth for its restaurant operations.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.04%, S&P 500 futures indicated a rise of 0.03% and Nasdaq 100 futures pointed to an increase of 0.04%.
Later in the day, the U.S. was to release official data on retail sales and producer price inflation. In addition the Federal Reserve was to announce its federal funds rate.