European stock markets opened negative on the last day of the week, which strengthened the expectations that the monetary policy meetings of the major central banks took place and that high interest rates could continue for a while, while Siemens Energy’s shares fell sharply after withdrawing its annual profit expectations.
The STOXX 600 index, which tracks Europe’s largest companies
It fell 0.3%.
The STOXX 600 index fell 2.8% on a week-on-week basis as investors weighed interest rate hikes by major central banks, including the central banks of the UK, Norway and Switzerland, and the possibility that inflation may remain higher for a while.
Germany’s DAX index
It was the index that recorded the biggest decline in the region, down 0.7%.
Shares of Siemens Energy
fell 30.3%. The company, which provides equipment and services to the energy sector, warned that the impact of quality problems in the Siemens Gamesa wind turbine could be felt for years.
Shares of the energy sector (.SXEP) in Europe fell 1.7%, making the sector the biggest drop.