Europe closes in the red

Wednesday, 05. October 2016 17:51

Stock markets in Europe closed in the red on Wednesday after the International Monetary Fund’s Global Financial Stability Report said Eurozone's banks have "simply too many branches with too few deposits" and funding costs. Additionally, investors were cautious on new indications of a possible interest rate hike in the United States by the end of the year. Meanwhile, higher oil prices did not influence sentiment much.

Germany’s DAX finished the day 0.32% lower with energy and utilities company RWE AG leading the losses.

The Euro Stoxx’s 50 lost 0.11% and France’s CAC 40 also ended 0.29% lower.

The FTSE 100, which almost reached its record closing high this week, was down 0.54%.

The euro was 0.08% down against the dollar changing hands at 1.1197 at 5:47 p.m. CET.

 

Image: EPA / Mauritz Antin

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Breaking the News / VP