Business

European stocks fall after Fed’s Powell signals rate hike next month

London -0.51%.

Germany -1.33%. Germany’s April flash manufacturing PMI 54.1 versus 54.5 expected.

France -1.18%. French April flash service PMI 58.8 vs Expected 56.5.

European food Stoxx 600 fell 1% after the exchange opened, with the retail, technology and oil and gas sectors posting the biggest losses.

Eurozone April flash service PMI 57.7 versus 55.0 expected.

UK retail sales for March -1.4% vs -0.3% m/m expected. Data in the United Kingdom showed retail volume fell above expectations in March, stoking fears of a recession.

Coming up in session: Manufacturing, April UK flash services, composite PMI at 08:30 GMT.

In the bond market, the 10-year bond yield rose more than 3 basis points to 2.95%.

Yields on German 10-year notes rose more than 3 basis points to 0.96%.

The UK 10-year yield was little changed at 2.01%.

European futures prices were mostly lower. FTSE -0.31%; CAC -0.37%; DAX -1.24% and EURO STOXX -1.19%.

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