AgenciesEuropean shares fell on Wednesday after Federal Reserve Chair Jerome Powell opened up the possibility of more aggressive rate hikes going forward, while sportswear firm Adidas dropped on plans to cut its annual dividend.
The pan-European STOXX 600 index was down 0.3% by 8:05 GMT, hitting its lowest level in a week.
The index posted its steepest one-day fall in nearly two weeks on Tuesday after Powell, at a hearing before the Senate Banking Committee, said the central bank might need to raise interest rates more than expected and was prepared to move in larger steps to temper inflation.
Shares of Adidas fell nearly 2% after the German sportswear maker said it planned to slash its 2022 dividend to 0.70 euros ($0.7374) per share.
Symrise was down 4%, dragging the European chemicals sector, after the German flavour and fragrance maker forecast 2023 core profit margin slightly below market expectations given rising costs
The pan-European STOXX 600 index was down 0.3% by 8:05 GMT, hitting its lowest level in a week.
The index posted its steepest one-day fall in nearly two weeks on Tuesday after Powell, at a hearing before the Senate Banking Committee, said the central bank might need to raise interest rates more than expected and was prepared to move in larger steps to temper inflation.
Shares of Adidas fell nearly 2% after the German sportswear maker said it planned to slash its 2022 dividend to 0.70 euros ($0.7374) per share.
Symrise was down 4%, dragging the European chemicals sector, after the German flavour and fragrance maker forecast 2023 core profit margin slightly below market expectations given rising costs
Wednesday, 08 Mar, 2023Experience Your Economic Times Newspaper, The Digital Way!
- Front Page
- Pure Politics
- Companies
- Brands & Companies
- More
Adani Prepays $902m Share-Backed LoansAdani Group promoters have prepaid loans backed by shares worth $902 million or ₹7,374 crore to foreign banks and Indian lenders ahead of their maturity in April 2025, it said in a release on Tuesday.
TCS Set to Bag Deals worth $1 Billion from Marks & SpencerTata Consultancy Services (TCS) is poised to close additional deals worth $1 billion with British retailer Marks & Spencer in the next few weeks, people aware of the developments said.
Baring PE Asia Looks to Pick up Stake in Shriram Housing FinanceBPEA EQT, formerly Baring PE Asia, is in advanced negotiations to buy into Shriram Housing Finance Ltd (SHFL), a mortgage subsidiary of Shriram Finance, people familiar with the matter said.
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by 
