European stocks edge down amid US rate hike uncertainty
On Friday, European stocks started lower as uncertainty over the timing of future American rate lifts weighed, notwithstanding a sustained rebound in crude prices.
During European morning trade, the EURO STOXX 50 tumbled 0.72%, French CAC 40 sank 0.76%, while German DAX 30 descended 0.69%.
European equities strengthened following the minutes of the Fed’s July policy gathering, published on Wednesday, that revealed that policymakers were still divided regarding the necessity to raise interest rates this year, bringing hopes for a September rate hike down.
However, on Thursday, John Williams, San Francisco Federal Reserve Bank President expressed his support for an American interest rate lift in the nearer months, pointing out that waiting too long could appear to be costly for the US economy.
Financial stocks traded mostly lower, as French lenders BNP Paribas as well as Societe Generale dropped 1.15% and 1.24% respectively, while German Deutsche Bank sank 1.10%.