European shares descend on American rate lift talk
On Thursday, European stocks started steeply lower, after the minutes of the Fed’s latest gathering surged hopes for a December rate lift and as dismal Chinese trade data powered fresh worries regarding growth perspectives.
During European morning trade, the EURO STOXX 50 dropped 1.22%, French CAC 40 sank 1.30%, while German DAX 30 lost 1.22%.
Equity markets were affected after the minutes of the Fed's September policy gathering published on Wednesday demonstrated that several voting members of the policy committee revealed that a rate increase would be justified soon if the US economy kept surging.
Financial shares traded mostly lower, as French lenders BNP Paribas along with Societe Generale dropped 1.98% and 2.45% respectively, while German Commerzbank and Deutsche Bank descended 1.91% and 2.20%.
Among peripheral lenders, Italian Intesa Sanpaolo and Unicredit dipped 1.93% and 0.84%, while Spanish banks Banco Santander and BBVA sank 2.15% and 2.21% respectively.