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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe open: Shares edge lower on rate cut timing; WoS tanks after warning

(Sharecast News) - European shares made a cautious start to trading on Thursday, with shares edging lower as investors digested comments from central bankers this week that poured cold water on the idea of early interest rate cuts this year. The pan-European Stoxx 600 index was down 0.03% at 467.58 in early deals. US markets closed in the red, while Asia trade was mixed.

Sentiment was also hit by continuing tit-for-tat attacks in the Red Sea between US forces and Iran-backed Houthi rebels in the last 24 hours.

Traders were also looking at another dump of corporate trading updates.

Watches of Switzerland shares tanked after the luxury goods seller cut revenue guidance and warned of continuing volatility as consumers shunned its expensive products.

However, sector peer and Cartier owner Richemont made strong gains after a trading update revealed strong demand in China, although sales fell in Europe.

Reporting by Frank Prenesti for

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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