European Equities Retreat on Powell’s Comments

By Investors Hub

European stocks have retreated on Wednesday after Fed Chairman Powell warned of potential slower growth and mounting U.S. debt.

Rising geopolitical tensions between India and Pakistan as well as caution ahead of a crucial meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un in the Vietnamese capital have also kept investors nervous.

While the U.K.?s FTSE 100 Index has slid by 0.8 percent, the German DAX Index is down by 0.4 percent and the French CAC 40 Index is down by 0.2 percent.

Spain’s Banco Santander has moved notably lower amid signs the bank is facing pressure over its capital levels.

Dutch supermarkets and eCommerce company Ahold Delhaize has also fallen after its fourth quarter net income declined 30.5 percent.

Marks & Spencer is posting a steep loss in London as it unveiled plans to launch a rights issue to fund an online food joint venture with Ocado.

Metro Bank has also plunged as a major accounting error at the lender triggered a hefty investor cash call. Fashion retailer Ted Baker has also tumbled after a profit warning.

On the other hand, German chemicals and pharmaceutical group Bayer has rallied after its adjusted core earnings rose 15.8 percent in the fourth quarter.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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