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(Sharecast News) - European shares were lower on Thursday as oil prices skipped back above $100 a barrel and bonds were sold off, as Norway's central bank became the latest to hike rates, while Switzerland and Sweden decided to hold.
The pan-regional Stoxx 600 index was down 0.13% at 1055 GMT with Britain's FTSE up 0.06%, Germany's DAX down 0.31%, France's CAC 40 fell 0.27% and Italy's MIB declined by 0.34%.
Switzerland's SMI fell 0.06 after the Swiss national bank held steady on rates. Norway's Oslo OBX gained 0.23% after the central bank lifted interest rates on Thursday for the second time this year and said it would be prepared to hike again to contain inflation.
Norges Bank raised its key deposit rate by 25 basis points to 4.5%. Economists had been split in their forecasts, with some expecting the central bank to stand pat.
Sweden's Riksbank opted to leave its key policy rate unchanged on Thursday, as widely expected, but warned of possible rises to come.
The central bank's executive board left interest rates at 1.75%, arguing that while the supply shocks from war in the Middle East and global cost pressures remained elevated, the global economy had "to some extent" been able to adapt.
Brent crude, having registered falls in recent days on hopes of talks between the US and Iran on lifting the blockade on the Strait of Hormuz, was up 1.25% to $104 a barrel.
Iranian President Masoud Pezeshkian's speech to United Nations on Wednesday put paid to any hopes of immediate talks as he blamed the US and Israel for stoking global instability, effectively hitting back at US President Donald Trump's assertion that he was weighing whether to "annihilate" Iran.
Sentiment was also hit by a warning from the European Bank for Reconstruction and Development that growth was slowing across a range of emerging market nations.
The EBRD, which covers 41 nations, expects growth of 2.5% this year, 0.6 percentage points below its June forecast.
In equity news, H&M shares fell after the fashion house posted results.
Troubled UK housebuilder Vistry posted a massive £661m loss in the first half of the year and cut full year guidance.
Reporting by Frank Prenesti for Sharecast.com