{"id":1661848,"date":"2022-09-28T07:58:29","date_gmt":"2022-09-28T11:58:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1661848"},"modified":"2022-09-28T07:58:50","modified_gmt":"2022-09-28T11:58:50","slug":"european-shares-pare-losses-as-boe-seeks-to-stabilise-markets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-shares-pare-losses-as-boe-seeks-to-stabilise-markets\/","title":{"rendered":"European shares pare losses as BoE seeks to stabilise markets"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuropean-shares-pare-losses-as-boe-seeks-to-stabilise-markets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1661848&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Devik Jain and Dhara Ranasinghe<\/p>\n<p>(Reuters) -European shares rallied from session lows on Wednesday led by UK\u2019s blue-chip index after the Bank of England said it would purchase bonds to stabilise the market shaken by British government\u2019s mini-budget.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The continent-wide STOXX 600 index was down 0.7% by 1100 GMT, after falling nearly 2% earlier in the session as an intensifying energy crisis in the region and the relentless surge in global bond yields fuelled worries about a recession.<\/p>\n<p>London\u2019s FTSE 100 index recouped some losses to trade down 0.4%, while UK gilt prices rocketed after the BoE said it would buy as many long-dated government bonds as needed between now and Oct. 14 to stabilise financial markets, adding that it would postpone next week\u2019s start of its gilt sale programme.[.L]\n<p>BoE\u2019s decision follows turmoil in UK markets, which have seen British gilt yields soar and sterling fall to record lows, with International Monetary Fund and ratings agency Moody\u2019s criticising Britain\u2019s new economic strategy.<\/p>\n<p>Euro zone borrowing costs fell, reversing an earlier rise to multi-year highs.<\/p>\n<p>\u201cWith the announcement just now they have put something of a floor under the market in the short term,\u201d said Charles Diebel, head of fixed income strategy at Mediolanum Asset Management in London.<\/p>\n<p>\u201cHowever, the pro-cyclical fiscal policy remains and as such the respite may not be long lasting. That said, given the announcement there is a line in the sand with respect to their tolerance for weakness, so something of a \u201cFed Put\u201d is now in effect \u2026 a bank put I guess.\u201d<\/p>\n<p>Meanwhile, geopolitical tensions intensified as Europe investigated what Germany, Denmark and Sweden said were attacks on two Nord Stream pipelines at the centre of an energy standoff.<\/p>\n<p>A media report said the European Union had threatened a \u201crobust and united response\u201d to probable pipeline attacks.<\/p>\n<p>\u201cDamaging the infrastructures clearly pushes the tensions between the West and Russia to a no-turning point, and dashes hopes of seeing an improvement anytime soon \u2013 both on the geopolitical and energy fronts,\u201d said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank.<\/p>\n<p>Reflecting the grim economic outlook, a survey projected German consumer morale would hit a record low in October as high inflation rates and rocketing energy bills show no signs of easing.<\/p>\n<p>Economy-sensitive sectors such as oil and gas, basic resources, retail and banking down between 1% and 3%.<\/p>\n<p>Shares of fish farmers such as Mowi, Leroy Seafood and SalMar dropped between 15% and 25% after the Norwegian government proposed a resource tax on salmon and trout farming of 40% from the tax year 2023.<\/p>\n<p> (Reporting by Devik Jain in Bengaluru and Dhara Ranasinghe in London; Editing by Subhranshu Sahu, Savio D\u2019Souza and Vinay Dwivedi)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/european-shares-pare-losses\/attachment\/german-share-price-index-dax-graph-is-pictured-at-the\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8R08F-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8R08F-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Devik Jain and Dhara Ranasinghe (Reuters) -European shares rallied from session lows on Wednesday led by UK\u2019s blue-chip index after the Bank of England said it would purchase bonds<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1661848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1661848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1661848"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1661848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1661848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1661848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1661848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}