(MENAFN– ecpulse)
European stock markets were mixed at Wednesday’s closing, with British equities lower after the Bank of England’s inflation report, while French Banks lifted the CAC 40 index.
The Bank of England provided explicit forward guidance on monetary policy, saying its key rate will remain at a record low of 0.5% until the country’s unemployment rate drops to 7%. However, the pledge failed to spur optimism in the equity market as investors feared the bank would struggle to stick to its guidance if inflation increases too much or the economy improves faster than anticipated.
Markets were also weighed down by concerns over the tapering of the U.S. Federal Reserve’s monetary stimulus.
The benchmark index for Europe, the STOXX 600 ended lower by 0.23% to 302.81 points, and STOXX 50 ended higher by 0.13% at 2794.44 points.
CAC 40 Index
The French benchmark index ended in the green today to settle at 4038.49, higher by 5.92 points or 0.15%. The index opened at 4024.98 recording a high of 4043.55 and a low of 4010.63. Within the index, 17 shares ended higher and 23 declined.
The best performers in terms of added value to the index were led by Veolia Environnement which rose 3.08% to settle at €10.535. Following was GDF Suez which surged 2.79% to settle at €17.115, while coming in third was Societe Generale SA which rose 2.46% to close at €34.38.
DAX Index
German equities dropped today as well, as the benchmark index DAX 30 ended lower by 39.25 points or 0.47% to close at 8260.48. The index opened at 8265.33 recording a high of 8281.52 and a low of 8228.11. Within the index, 20 ended lower and 10 ended higher.
Lagging shares leading the index lower where driven by Beiersdorf AG that plummeted 3.21% to €68.23; following was Deutsche Boerse AG as it lost 2.44% to settle at €54.80 and then came Deutsche Lufthansa which retreated 1.82% to €14.26.
FTSE 100 Index
The British benchmark index ended the day also in the red to settle at 6511.21 down by 93.00 points or 1.41%. The index opened the day at 6604.21 setting the high of 6624.99 and the low of 6511.21. Among the listed shares, 91 ended lower and 10 inclined.
Lagging shares were led by TUI Travel Plc where it ended down by 5.16%, closing at £380.80; following was Unilever Plc which shed 3.96% to close at £2572.00 and BT Group Plc which slipped 2.98% to close at £328.50.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.