European stocks close muted for fourth straight session
European shares ended mixed for the fourth session as ECB-linked expectations of higher rates weighed on risk demand. Euro STOXX 50 inched up 0.1% to 6,413, while STOXX 600 closed flat at 649.6.
European stocks finished with muted moves for a fourth straight session as expectations for higher European Central Bank interest rates weighed on demand for risk. 6. Traders added positions tied to multiple rate hikes by the ECB this year as benchmark natural gas prices climbed to their highest level since the Russian invasion of Ukraine, lifting inflation risks and sovereign yields. The central bank is widely expected to deliver a rate increase this week.
Industrial stocks ended higher after lagging in recent sessions, with Rheinmetall, Airbus and Schneider each gaining more than 2%. Insurers stayed under pressure, with Munich Re down 2% and AXA off 1%. Luxury shares also fell after Chinese trade data, with Ferrari and Hermes both slipping 2%.