European shares steady after French political tremors, eyes on Fed
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2024
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Source: reuters
- European Shares: European shares were rangebound due to political uncertainties in France and anticipation of the U.S. Federal Reserve's monetary policy meeting.
- Market Performance: The STOXX 600 was flat, while France's CAC 40 index rebounded after President Macron called for a snap election.
- Economic Indicators: The French 10-year bond yield reached its highest since November amid improved views on European growth.
- Sectoral Declines: Basic resources sector saw a decline of 1.6% with Rio Tinto falling 2.2% following an acquisition announcement.
- Upgrades and Downgrades: Atos fell 11.1% due to debt restructuring, while UCB gained 3.3% after an upgrade to "neutral."
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
