Europe Markets
 |
European shares closed lower on Tuesday thanks to
fears over an upcoming independence vote for Scotland spreading across
the region and weak trade on Wall Street.
The pan-European FTSEurofirst 300 provisionally closed lower by 0.4 percent at 1,385, with major country bourses in the red.
The U.K.'s FTSE 100 Index closed unofficially 0.1 percent lower, little affected by a speech from Bank of England Governor Mark Carney earlier on Tuesday. He said that if the Bank began raising rates in spring 2015, inflation would settle at around 2 percent and a further 1.2 million jobs would be created.
Read MoreBoE's Carney: Rate hike nearing, wage growth weak
Instead, investors focused on whether Scotland might vote to quit the United Kingdom next week, and the economic uncertainty that this could bring. To encourage Scots to vote "no" to full independence, the three main parties in London are set to launch proposals for more devolution and greater powers for Scotland on Wednesday, if it remains part of the union.
The pan-European FTSEurofirst 300 provisionally closed lower by 0.4 percent at 1,385, with major country bourses in the red.
The U.K.'s FTSE 100 Index closed unofficially 0.1 percent lower, little affected by a speech from Bank of England Governor Mark Carney earlier on Tuesday. He said that if the Bank began raising rates in spring 2015, inflation would settle at around 2 percent and a further 1.2 million jobs would be created.
Read MoreBoE's Carney: Rate hike nearing, wage growth weak
Instead, investors focused on whether Scotland might vote to quit the United Kingdom next week, and the economic uncertainty that this could bring. To encourage Scots to vote "no" to full independence, the three main parties in London are set to launch proposals for more devolution and greater powers for Scotland on Wednesday, if it remains part of the union.
"Any increase in political or economic uncertainty is always likely to make investors nervous, and a Scottish 'yes' vote would create this in spades," Michael Hewson, a market strategist at CMC Markets said in a note.
"(This) suggests we will continue to see further market weakness, due to the numerous unknowns, if the polls continue to move in the 'yes' camp's favor."
Read MoreIndependent Scotland: What would happen next?
In individual stock news, L'Oreal shares closed around 1.7 percent lower after CEO Jean-Paul Agon told French media that he was cutting his outlook for the global cosmetics market.
U.S. stocks fell on Tuesday, extending losses after the S&P 500's biggest drop in a month, with investors looking to Apple's much-anticipated product launch.
Russian sanctions
Europe adopted a package of new sanctions against Russia late on Monday, but said their enforcement would be delayed to assess the sustainability of the cease-fire in Ukraine.
Read MoreEU formally adopts new sanctions against Russia
Russian Prime Minister Dmitry Medvedev said on Tuesday that Moscow would support companies hit by European penalties, according to Reuters.
Follow us on Twitter: @CNBCWorld
Europe adopted a package of new sanctions against Russia late on Monday, but said their enforcement would be delayed to assess the sustainability of the cease-fire in Ukraine.
Read MoreEU formally adopts new sanctions against Russia
Russian Prime Minister Dmitry Medvedev said on Tuesday that Moscow would support companies hit by European penalties, according to Reuters.
Follow us on Twitter: @CNBCWorld
0 σχόλια:
Δημοσίευση σχολίου
Ο σχολιασμός επιτρέπεται μόνο σε εγγεγραμμένους χρήστες