The European stock market were seen trading mixed on Tuesday , as investors raise concerns and fears over the possible start of the reduction of the asset-purchasing program ,after a Federal Reserve official made a comment that the central bank would begin to scale back its measures soon.
The European Euro Stoxx 50 advanced 0.05% to 2,810.55 during the market open, while the German DAX declined 0.05% to 8,394.06 at the same time. The French CAC 40 edged up 0.19% higher at 4,057.86, while the UK’s FTSE 100 declined 0.07% to 6,615.00.
The Fed President for Dallas Richard Fisher stated on Monday that the Federal Open Market Committee (FOMC) is expected to begin tapering the asset-purchasing program by fall.
“With the unemployment rate having come down to 7.4%, I would say that the Committee is now closer to execution mode, pondering the right time to begin reducing its purchases, assuming there is no intervening reversal in economic momentum in coming months,” Fisher said.
Meanwhile in Germany, Factory orders have been expected to rebound in June, as the reading expected to increase by 0.01% on a monthly basis, while on a yearly basis orders are expected to pick up by 0.2%.
Italy’s industrial production for June is reported to have picked up by 0.3% on a monthly basis, after the 0.1% increase in the month of May. While on an annual basis, the output declined 2.1%, according to reports from the National Institute of Statistics.
Italy is expected to release its gross domestic product (GDP) report for the second quarter, as analysts have forecasted the Italian economy to have fallen by 2.2%, on an annual basis.
The post Europe stock market mixed as Fed official hints tapering appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog
