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Most European stocks fell ahead of the Federal Reserve's decision

2019-09-18 07:37 am | Resource: News | No Views : 17

 Most European stocks fell ahead of the Federal Reserve's decision

European markets started the day lower on Wednesday as investors were cautious ahead of the US Federal Reserve's interest rate decision, which will be announced after trading in Europe later in the day. During the session, the EU and UK are scheduled to release inflation data. Airlines were among the biggest losers in the indexes as fuel prices continued to weigh on them after the attack on oil facilities in Saudi Arabia.

EU car sales fall 8.4% year on year in August

The European Automobile Manufacturers Association (ACEA) said Wednesday that 1.04 million cars were registered last month in the European Union for the first time. The sales index fell 8.4% year on year. The authors of the report highlighted the "high comparison base", as in August last year, the number of clusters of 28 states rose by 31.2% as the WLTP emission standard was about to be met. Spain had the biggest decline, 30.8%.

In the first eight months of 2019, new registrations fell 10.52 million, or 3.2% below the level compared to the same period last year, with Germany being the only relatively bright spot, adding 0.9%. The data showed a 1.4% rise for July in the EU from 12 months earlier, to 1.29 million cars, also led by Germany (4.7%).
  • Considering the individual manufacturers, Nissan Motor Co. Ltd. achieved the largest decline in August, reaching 47.3% to 22,480 units.
  • Advanced Volvo, owned by Zhejiang Jili Holding Group Co., Ltd. , By more than 9.2% to 15924 cars.
  • The largest shareholder, FOBEX, expanded to 27.4% from 27.2%, but posted a 7.7% decline in total to 285,894 units.

European stock openings
  • Germany's DAX lost 0.07% at 9:03 CET. Beiersdorf fell 1.68% at 9:17 am CET.
  • The FTSE 100 rose 0.10% at 9:14 CET.
  • The CAC 40 fell 0.17% at 9:13 CET.

The euro was down 0.04% in the red against the dollar, trading at 1.10675 at 9:15 CET. The pound was down 0.25% against the greenback and was trading at 1.24683 at 9:15 CET.

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