10/3, 5:31 PM (Source: TeleTrader)
more TeleTrader news

Europe closes lower as interest rate fears grow

European stock markets continued to decline towards the end of the trading session on Tuesday as investors processed the latest remarks by the European Central Bank Chief Economist Philip Lane, who suggested that interest rates could remain higher for longer than it was initially expected.

The German DAX lost 1.06% at 5:30 pm CET, with Zalando SE dropping 5.32% at the open. The UK's FTSE 100 fell by 0.54% as Ocado Group declined 4.63%. At the same time, France's CAC 40 went 0.49% down while Renault SA dived 5.58%. The Euro Stoxx 50 decreased by 1.02%, with Iberdrola down 3.63% a minute later.

The euro lost 0.16% against the dollar at 5:29 pm CET, selling for 1.04605. The pound was 0.17% down compared to the US currency, changing hands for 1.20666 simultaneously.

Baha Breaking News (BBN) / RR