European shares open lower as Fed trims rate-cut projections
European shares edged lower on Thursday as U.S. Federal Reserve's hawkish stance on rate cuts weighed down sentiment. STOXX 600 down 0.2%, rebounding from previous session's 1.2% gain. BT rose 2.5% after Carlos Slim's stake acquisition in UK's largest broadband operator.
edged lower at open on Thursday, weighed down by elevated , as a more hawkish stance on rate cuts by the dampened sentiment.The continent-wide was down 0.2%, as of 0715 GMT, after closing 1.2% higher in the previous session.
The U.S. held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with the central bankers projecting only one quarter-point rate cut this year, down from three projected in March.
Bond yields across the euro zone rose, with the yield on the German 10-year bund, the benchmark for the euro zone, was last at 2.551%.
Most sectors traded lower, with rate-sensitive real estate being the biggest drag, down 0.8%.
Among single stocks, BT gained 2.5% after Mexican magnate Carlos Slim took a 3.16% stake in Britain's largest broadband and mobile operator.
Shares of Wise plunged 19.2% to the bottom of STOXX 600 after the British money transfer company forecast a 15%-20% growth in its underlying income this year, a slowdown on the 31% seen in the year to end-March.
Source: Stocks-Markets-Economic Times
