Europe closes lower after Fed rate hike

Thursday, 20. December 2018 17:35

European equities closed in the red on Thursday after the United States Federal Reserve raised interest rates for the fourth time this year. Meanwhile, policymakers from the Bank of England decided unanimously to maintain the benchmark interest rate at 0.75% and the bond portfolio at £435 billion.

The DAX dropped 1.44% as Deutsche Bank plummeted over 7% after it was announced earlier that 30% of its workforce in Singapore and Hong Kong left the company in the second half of this year. In Paris, the CAC 40 fell 1.78% with Bouygues tumbling 4.73%. The FTSE 100 lost 0.80%; cruise operator Carnival plunged 10.83%.

The euro advanced 0.39% against the dollar at 5:33 pm CET, buying 1.1417.

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Author:
Breaking the News / JC