The main stock indices in Europe fell on Tuesday, due to the losses in the shares of the Nestle Group and major energy companies, and the uncertainty about whether the US Congress will approve the initial debt ceiling agreement.
The Stoxx 600 index closed down 0.9 percent and is on track to record its largest monthly decline this year, despite recording this month its highest level in more than a year.
The initial agreement to raise the US debt ceiling of $31.4 trillion will face its first test in Congress today, Tuesday 30/5/2023.
On monetary policy, ECB member Gediminas Simkos indicated that the bank may raise interest rates in June and July.
Meanwhile, the European Central warned that major banks in the euro zone could suffer a blow if their financial clients, such as funds, insurance companies and clearing houses, withdraw their deposits or run into trouble.
Nestle shares fell 3.3 percent after the company appointed Anna Manz, chief financial officer of the London Stock Exchange Group, as its new chief financial officer.
The food and beverage sector index fell 2.7 percent and energy stocks fell 2 percent in the wake of lower oil prices.
The share of the Swedish gaming company Empresser was the leader on the Stoxx 600 index, after it jumped 11.2 percent.
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2023-05-30 19:28:44
#European #stocks #falling #due #losses #shares #Nestle #Group #energy #companies
