BRUSSELS, Dec 21 — European shares fell today, led by losses in real estate and automobiles and parts stocks following a sharp selloff at Wall Street in the previous session, while investors awaited more economic data from the US for further clues on the global interest rate path.
The pan-European STOXX 600 index fell 0.3 per cent by 0817 GMT, on track to snap a two-day streak of gains.
In a broad market selloff, shares of automobile and parts led the declines, falling 0.3 per cent, while rate-sensitive real estate stocks slipped 0.6 per cent.
Focus will now shift to the final estimates of US third-quarter GDP and the weekly jobless claims report later in the day for more clues on Federal Reserve’s stance on much-awaited rate cut decisions.
In corporate news, Swisscom shares lost 0.9 per cent after report that the telecom firm is weighing a bid for Vodafone’s Italian business early next year.
The broader telecommunications index was down 0.2 per cent.
Commerzbank topped the STOXX 600, rising 2.9 per cent after it received approval from the European Central Bank to buy back up to 600 million euros ($656.88 million) in shares. — Reuters