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U.S. Federal Reserve Chair Jerome Powell speaks at a news conference on interest rates, the economy and monetary policy actions on June 15, 2022.
Olivier Douliery- | Afp | Getty Images
LONDON — European stocks closed lower Tuesday, bucking the trend across the Atlantic, as investors assessed the economic and political outlook in the region and beyond.
The pan-European Stoxx 600 provisionally closed 0.21% lower, pulling back from larger losses earlier in the session. Mining stocks fell 1.6% as travel gained 0.5%.
European markets
TICKERCOMPANYPRICECHANGE%CHANGE.FTSEFTSE 1008,153.29-51.60-0.63%.GDAXIDAX18,188.50-166.26-0.91%.FCHICAC 40 Index7,538.09-48.46-0.64%.FTMIBFTSE MIB 34,236.66-292.47-0.85%.IBEXIBEX 35 Idx11,085.00-62.50-0.56%
In Europe, it was a bad day for fashion houses, however, as Germany’s Hugo Boss plunged 7.5% after the company cut its full-year sales outlook, amid “persistent macroeconomic and geopolitical challenges.” The U.K.’s Burberry meanwhile lost 5.2%, a day after issuing a profit warning on weak luxury demand.
Sweden’s Swedbank fell 1.3% after it reported a fall in second-quarter net profits.
Ocado jumped as much as 18.5%, before paring gains to end around 6% higher, after the British online grocer reported a lower first-half loss and raised its full-year guidance.
This article was originally published by a www.cnbc.com
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