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European Shares Slide On Interest-rate Worries


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(RTTNews.com) - European stocks were broadly lower on Wednesday after Wall Street stocks sold off overnight on concerns over rising bond yields amid expectations of more Fed rate hikes this year. Corporate earnings also proved to be a mixed bag, weighing on investor sentiment.

The pan-European Stoxx Europe 600 index was down 0.9 percent at 379.69 in late opening deals after ending the previous session little changed with a negative bias.

The German DAX was down as much as 1.6 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were declining around half a percent each.

Swiss specialty chemicals company Clariant lost almost 7 percent on posting stagnant profit margins for the first quarter.

Germany'sDeutsche Boerse dropped 1.4 percent after announcing personal and structural changes to its executive board.

Credit Suisse shares jumped over 4 percent after the Swiss investment bank posted its strongest quarterly earnings in three years, underpinned by strong growth in its wealth management division.

STMicroelectronics rallied 5 percent after its first-quarter profit more than doubled, driven by sales growth across all product groups.

French IT services company Atos rallied 2.2 percent after it announced a partnership with Google Cloud to develop artificial intelligence solutions to its global customers.

Kering soared 6 percent after the luxury goods company reported "spectacular growth' from Gucci in its first quarter results.


Read the original article on RTTNews (http://www.rttnews.com/2885908/european-shares-slide-on-interest-rate-worries.aspx)


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This article appears in: Politics , US Markets , Stocks
Referenced Symbols: CLZNY ,


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