European shares pull back in early trade

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 14:52:48

European shares pull back in early trade

European shares pull back in early trade
European shares fell in early trading on Friday, pulling back from two-week highs hit in the previous session following the US Federal Reserve's decision to push back on its next rate increase.

By 0708 GMT, the pan-European STOXX 600 index was 0.4 per cent lower, retreating a touch after having closed at its highest level since Sept 9 in the previous session.

The index is down more than 5.0 per cent so far this year.

Lundbeck slumped 16.6 per cent, the biggest STOXX 600 faller, after the Danish drug maker's highly anticipated idalopirdine Alzheimer's drug failed in a late-stage study.

Miners and banks were the biggest sectoral fallers with the STOXX Basic Resources and the STOXX Bank indexes down 1.3 and 0.7 per cent respectively, according to Reuters.

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