Miners knock European stocks lower ahead of key central bank decisions

  • 11/2/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Nov 2 (Reuters) - European shares eased from record levels on Tuesday as traders eyed upcoming central bank meetings for clues on tapering and rate decisions, while a plunge in iron ore prices hurt miners. The pan-European STOXX 600 index slipped 0.3% as of 0813 GMT, while Asian stocks were mixed on jitters ahead of U.S. Federal Reserve and Bank of England meetings this week where the central banks could scale back pandemic-era stimulus. Mining stocks led losses, down 2.4% on a fall in the iron ore market and lower copper prices. The STOXX 600 closed on Monday at a record high on the back of strong earnings and a jump in bank stocks fuelled by expectations of a rate hike by the European Central Bank next year. However, London-based Standard Chartered slumped 5.7% despite reporting a stronger-than-expected pre-tax profit for the third quarter helped by lower credit charges. The world’s largest online betting group Flutter Entertainment dropped 6.7% after trimming its full-year outlook due to a run of unfavourable sports results and a temporary exit from the Netherlands. In a bright spot, meal-kit delivery firm HelloFresh surged 12.6% after raising its sales forecast for 2021, helping Germany’s DAX stay afloat. (Reporting by Anisha Sircar in Bengaluru; Editing by Shounak Dasgupta)

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