🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

European shares led lower by weaker utility stocks

Published 04-06-2015, 12:43 pm
© Reuters.  European shares led lower by weaker utility stocks
DE40
-
BASFN
-
NTGY
-
REDE
-
SYENF
-
FTEU3
-

LONDON, June 4 (Reuters) - European shares lost ground on Thursday as a pick-up in bond yields weighed on utility stocks, whose large levels of debt make them particularly sensitive to credit market jitters.

German 10-year Bund yields rose to 2015 highs on Thursday, extending a rise that had begun on Wednesday after Mario Draghi, president of the European Central Bank, said the ECB saw no reason to adjust its monetary policy stance despite recent volatility in the credit market. ID:nL5N0YP1S7

The pan-European FTSEurofirst 300 index .FTEU3 fell 0.6 percent, while Germany's DAX .GDAXI weakened by 0.5 percent.

Utility stocks were among the worst performers on the FTSEurofirst. Spain's Gas Natural GAS.MC fell 1.7 percent while rival Red Electrica REE.MC declined by 1.6 percent, with Red Electrica also impacted by a downgrade from UBS.

However, Swiss agrochemicals group Syngenta SYNN.VX outperformed to rise 1.8 percent after Reuters reported that German company BASF BASFn.DE was considering a bid for Syngenta. ID:nL1N0YP1J6

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.