Heathcare stocks weigh on European markets
fell 1 per cent and 3.6 per cent as investors pondered when the current cycle of ECB would end. ECB policymakers are expected to opt for another quarter point hike next month, which will be the ninth in 12 months. The debate now is whether the current price dynamic warrants a further increase in September and possibly another one after that. Iseq heavyweightswere all down between 0.1 per cent and 1 per cent, marking a weak day on marketsEnergy stocks gained 0.
Germany’s Dax index eased 0.1 per cent after a survey showed business morale in Europe’s largest economy worsened for the second consecutive month in June.fell for a second consecutive day, hit by a raft of target price cuts and rating downgrades as problems at its wind turbine division turned out to be worse than expected last week.rose 10.8 per cent after the British luxury carmaker said it would enter an agreement with Lucid Group to make “high performance” electric vehicles.dropped 17.
Tech stocks, particularly chips, put the Nasdaq out front, with the S&P 500 showing a more modest gain. But healthcare and financials pulled the blue-chip Dow into negative territory. Market participants expect the central bank to raise the Fed funds target rate by another 25 basis points in July, but the path beyond is less clear and dependent on economic data.
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