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Tuesday, October 15, 2024

European stocks hit a two-week high and the energy sector falls

European stocks hit a two-week high and the energy sector falls

And rose European STOXX 600 index 0.2 percent by 0710 GMT, supported by shares of telecommunications and travel companies.

And he intends European Central Bank He adjusted his monetary policy on Thursday amid increasing expectations of a 25 basis point cut in interest rates.

Recent data indicated that the economic situation in the euro zone is worse than it was when policymakers last met in September.

Company announced Ericsson Its core profits and sales in the third quarter exceeded expectations with increased demand for fifth generation services in North America, which led to an eight percent jump for the Swedish company’s shares.

On the other hand, company shares declined Energy 2.5 percent affected by the decline in oil prices after a media report said that Israel informed the United States that it would not bomb Iranian oil facilities, which allayed market fears about supply disruptions.

Total Energies shares fell 3.7 percent after the French oil company expected lower refining and distribution results in the third quarter due to declining refining margins in Europe and elsewhere.



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