European markets retreat as global sentiment falters; Sandoz shares drop 17% on debut
Publishing timestamp: 2023-10-04 12:04:33
Summary
The European markets closed slightly lower due to U.S. bond yields pulling back from multiyear highs. Oil and gas stocks led losses, while tech stocks closed up. The markets have been affected by gloomy data and faltering global market sentiment. OPEC+ made no changes to the oil output policy, causing oil prices to turn lower. Sandoz Group's shares fell after receiving lower-than-expected valuation. ADP reported that private payrolls grew below estimates. Novartis completed the spinoff of Sandoz. Goldman Sachs predicts a rise in the use of "green" electricity. Tesla's stock continues to divide investors. European markets are expected to open lower.
Sentiment: MIXED
Tickers: .FTSE, TSLA, .STOXX, NOV.N-CH, .FTMIB, .FCHI, @CL.1, @LCO.1, .GDAXI,
Keywords: business news, united states, breaking news: europe, government debt, stoxx 600, economic events,
Source: https://www.cnbc.com/2023/10/04/european-markets-live-updates.html