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European stocks down after Fed disappoints, Shell falls

Published 08/01/2019, 03:31 PM
Updated 08/01/2019, 03:40 PM
European stocks down after Fed disappoints, Shell falls
BARC
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SHEL
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LSEG
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STAN
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TRI
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STOXX
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 1 (Reuters) - European shares tracked Wall Street and
Asian markets into the red on Thursday after the U.S. Federal
Reserve dampened hopes of future cuts in U.S. interest rates,
while Shell's RDSa.L lowest profit in more than two years
knocked 4% off the oil major's value.
The losses were limited, however, by other, more positive
results, including from Barclays BARC.L and Standard Chartered
STAN.L , as well as London Stock Exchange Group's LSE.L $27
billion merger with financial information firm Refinitiv.
The exchange operator, in whom Reuters News parent Thomson
Reuters TRI.TO will take a 15% stake under the terms of the
deal, rose 3.6% in early trade.
By 0708 GMT the pan-European benchmark stock index STOXX 600
.STOXX had fallen 0.2%, with energy and mining giants the
biggest drag as oil, iron ore and copper prices dipped. O/R
MET/L IRONORE/
The Fed as expected cut interest rates by a quarter of a
percentage point on Wednesday, but Chair Jerome Powell
disappointed investors by saying the move might not be the start
of a lengthy campaign to shore up the economy against risks
including global weakness.

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