European Markets Mixed; US Government Shutdown Looms
European markets witnessed mixed fortunes today, with the UK's FTSE 100 and the EuroStoxx 50 both closing slightly lower, while the Swiss SMI edged up. Attention was drawn to a potential government shutdown in the US, with the two main political parties, the Democrats and the Republicans, at odds.
The FTSE 100 dipped 0.12 percent to 9,288.27 points, with oil stocks being the weakest sector. This was largely due to the ongoing correction in oil prices, which saw Brent oil prices continue their decline after a significant drop earlier in the week.
AB Inbev and Pernod Ricard were among the notable losers. AB Inbev lost nearly one percent, with analysts expressing concerns about its short-term sales trends. Meanwhile, Pernod Ricard shares fell by two percent following a series of downgrades by various banks. The EuroStoxx 50 also lost around 0.1 percent to 5,501.83 points by midday. In contrast, the Swiss SMI gained 0.1 percent to 12,023.76 points.
On the other side of the Atlantic, there is current attention on a potential government shutdown in the US. The two main political parties, the Democrats and the Republicans, are in conflict, with the potential for a prolonged shutdown.
Asos shares plunged nearly nine percent due to a warning about its operating profit for the current year. Meanwhile, the fate of the US government remains uncertain, with the Democrats and the Republicans yet to reach an agreement. Investors will be watching these developments closely in the coming days.
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