European stock markets open lower amid the fall of LEG Immobilien

By: News Team

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European stock markets open lower amid the fall of LEG Immobilien

European stock markets opened lower on Thursday, with German property LEG Immobilien bottoming out in the benchmark index. STOXX 600 by the suspension of dividends, while investors also worried about the possibility that interest rates will continue to rise for longer.

LEG Immobilien shares plunged 10.6% in early trading as the company suspended its dividend after publishing 2022 results.

The STOXX 600 index fell 0.4% and real estate stocks fell 1.7%.

European markets fell after closing higher in the previous session, likely supported by comments by Federal Reserve Chairman Jerome Powell that the U.S. central bank had not decided on the size of this month’s rate hike.

But concerns persisted after stronger-than-expected U.S. data supported views that the Fed could keep raising rates.

European miners fell 2% after falling prices of copper and the dollar’s proximity to three-month highs. [MET/L]

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