Europe close: Stocks dip with US debt ceiling talks in focus

By Alexander Bueso

Date: Monday 22 May 2023

Europe close: Stocks dip with US debt ceiling talks in focus

(Sharecast News) - European shares ended the day with slight losses hovered as investors monitored the outcome of talks on the US debt ceiling.
"It's been a fairly quiet, if slightly negative session for European equity markets today, with the FTSE100 modestly outperforming, as markets tread water ahead of the resumption of debt ceiling talks later this evening," said Michael Hewson, chief market analyst at CMC Markets UK.

The pan-regional Stoxx 600 index was up 0.01% at 468.91, albeit with most major continental bourses mired in slight losses.

Spain's Ibex 35 was the exception, adding 0.58% to 9,305.0.

In equity news, London-listed Polymetal shares tanked as the company mounted a firefighting exercise, stressing that new US restrictions did not affect its business outside Russia.

The US State Department on Friday included Polymetal's Russian business and Polyus - the largest gold producers in Russia - on its latest list of sanctions targets, aiming to punish Moscow for its invasion of Ukraine.

Dechra shares slumped as the pharmaceutical company issued a profit warning.

Ryanair rose a tad after the budget airline recovered to a near-record annual profit following a "strong" post-Covid recovery. BA and Iberia owner IAG and Wizz Air also rose.


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