Energy shares lead Europe's STOXX 600 to snap 5-day gains
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Sky to launch broadband services on CityFibre network, BT falls
SalMar falls as operating profit lags estimate
Coloplast falls after it posts 'weakish' Q3 EBIT margin
Sweden's Riksbank cuts interest rates
German producer prices dropped 0.8% YoY
STOXX 600 down 0.5%
Updated at 1600 GMT
By Ankika Biswas and Pranav Kashyap
Aug 20 (Reuters) -Europe's main stock index snapped a five-day winning streak on Tuesday, dragged down by heavyweight energy stocks, with investors sizing up domestic economic data and bracing for this week's meeting of central bankers in Jackson Hole.
The pan-European STOXX 600 index .STOXX closed 0.5% lower, erasing early gains and easing from the near three-week high level hit earlier in the day. All the regional bourses also slipped into negative territory.
An early drop in oil prices knocked the energy sector down 2% .SXEP to an over one-week low, even though the commodity's prices picked up gradually during the day.
A Reuters poll showed European shares will rise modestly by year-end, thanks to central bank interest rate cuts, although strategists were nevertheless cautious on their outlook for the region's biggest companies.
Both the STOXX 600 and blue-chip STOXX50E .STOXX50E are up over 7% so far this year, having survived a recent bout of volatility that saw the benchmark index slip below the crucial 500-point mark at the month's start on concerns over a potential U.S. recession.
"Goldilocks thematic and expectations that (the) Fed is closer to pivot is fuelling the risk-on sentiment," OCBC strategists noted.
"Potentially, mild unwinding of risk-on positions is not ruled out as we progress on the week."
Investors are now on the lookout for minutes from the Federal Reserve's July policy meeting on Wednesday and comments by the most influential central bank's Chair Jerome Powell at the Jackson Hole conference in Wyoming on Friday.
Any concrete hints on U.S. rate cuts will provide a fresh boost to risk assets globally amid lingering fears over the world's largest economy's performance, although such concerns seem to have eased off of late.
Among major single movers, SalMar SALM.OL dropped 7.4% after the Norwegian salmon farmer posted operating profit below estimate and cut its Iceland harvest outlook.
BT BT.L fell 6.4% as its existing partner TV company Sky is set to launch its broadband services on internet provider CityFibre's network, in a blow to the telecom giant.
Danish medical equipment maker Coloplast COLOb.CO lost 5% after reporting third-quarter earnings.
Luxury .STXLUXP and automobile .SXAP stocks were among the rare bright spots.
In Sweden, the central bank lowered its key rate as expected, and said it could speed up policy easing if price pressures do not pick up, holding out the possibility of up to three more cuts before year end.
Swedish shares .OMXSPI, however, fell 0.5%, snapping a five-day gaining streak.
On the data front, German producer prices decreased by 0.8% on the year in July, in line with expectations.
Reporting by Pranav Kashyap and Ankika Biswas in Bengaluru; Editing by Sherry Jacob-Phillips, Varun H K and Jonathan Oatis
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
