Major trades in bank shares weigh on European stock exchanges

In Europe, stock indices began to decline on Tuesday. In Frankfurt, the DAX index fell 1.7 percent, in London the FTSE 100 index fell 0.7 percent, and in Stockholm the OMXS 30 index fell 1.3 percent.

The Stoxx Europe 600 index, which tracks broad European equities, was down 1.1 percent.

Of the sectors in the Stoxx 600 index, the energy sector was just rising. In the morning, Brent oil grade was up 2.8 percent to $ 101.20 a barrel.

The sharpest declines were in the financial sector and consumer durables.

The big German banks Deutsche Bank and Commerzbank were both down sharply by nearly 10 per cent as an unknown investor sold a large stake in the banks ’shares. In total, shares were sold for almost two billion euros.

Europe is also closely following the Russian invasion of Ukraine. The war is feared to continue soon with a major attack in eastern Ukraine. Ukraine has called for urgent military assistance from Europe.

In the United States, stock markets clearly ended in a deficit yesterday. In Japan, the Nikkei index fell 1.8 percent.

At the end of the trading day, Chinese equities rose sharply and the CSI 300 index rose 1.9 percent.

This afternoon, consumer price change figures are reported in the United States, giving the most recent picture of where inflation is heading.

The US Federal Reserve is expected to take strong action to curb inflation, as several of its leaders have said they are ready to cut the Bank’s expanded balance sheet and raise interest rates quickly to curb inflation, despite measures to curb economic growth.

The VIX index, which measures market volatility and is also called the stock market fear factor, is on the rise. The value of the index is now 24.4 points, compared to 36.5 points at the time of the previous market nervousing in early March.

Source: Arvopaperi by

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