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Miners knock European stocks lower ahead of key central bank decisions By Reuters



© Reuters. FILE PHOTO: The German share worth index DAX graph is pictured on the inventory trade in Frankfurt, Germany, October 29, 2021. REUTERS/Employees

(Reuters) – European shares eased from report ranges on Tuesday as merchants eyed upcoming central financial institution conferences for clues on tapering and fee selections, whereas a plunge in iron ore costs damage miners.

The pan-European index slipped 0.3% as of 0813 GMT, whereas Asian shares had been combined on jitters forward of U.S. Federal Reserve and Financial institution of England conferences this week the place the central banks might cut back pandemic-era stimulus.

Mining shares led losses, down 2.4% on a fall within the iron ore market and decrease costs.

The STOXX 600 closed on Monday at a report excessive on the again of sturdy earnings and a leap in financial institution shares fuelled by expectations of a fee hike by the European Central Financial institution subsequent yr.

Nevertheless, London-based Customary Chartered (OTC:) slumped 5.7% regardless of reporting a stronger-than-expected pre-tax revenue for the third quarter helped by decrease credit score expenses.

The world’s largest on-line betting group Flutter Leisure dropped 6.7% after trimming its full-year outlook on account of a run of unfavourable sports activities outcomes and a short lived exit from the Netherlands.

In a brilliant spot, meal-kit supply agency HelloFresh surged 12.6% after elevating its gross sales forecast for 2021, serving to keep afloat.

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