European Stock Indices Close Slightly Lower

Brussels, European stocks on Tuesday closed slightly lower.

The Stoxx 600 index closed 0.2 percent lower. Shares of the banking and luxury products sectors were the biggest losers, as each of them fell about 0.9 percent.

The Stoxx index has retreated from record highs since European Central Bank policymakers warned of the expectation of successive interest rate cuts in June and July.

Traders expect the European Central Bank to cut interest rates by 66 basis points in total by the end of the year.

Investors will focus on the minutes of the latest meetings of the Monetary Policy Committee of the Federal Reserve (the US central bank) and the announcement of chip giant NVIDIAs earnings tomorrow, Wednesday, to see whether the recent momentum of US and European stocks will continue to reach record high levels.

Pharmaceutical company AstraZeneca rose 2.2 percent, and was among the biggest gainers on the main Financial Times 100 index in the United Kingdom, after the company said it seeks to increase its revenue
s by about 75 percent to $80 billion by 2030.

Generali shares, Italy’s largest insurance company, fell 1.5 percent after announcing first-quarter results.

Saipem Oilfield Services shares rose four percent after winning contracts worth $3.7 billion with a subsidiary of Total Energies.

The shares of the Swiss mechanical fastening systems manufacturer SFS Group also jumped eight percent.

Source: Qatar News Agency

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