The equities in Europe FTSE,CAC and DAX went lower
The equities in Europe like the FTSE,CAC and DAX lower also when the US Federal Reserve made a downbeat assessment of the health of the economy. Banks were the biggest decliners yesterday in Europe. Miners were among the few gainers, as a weaker dollar helped copper prices to rise and gold hit another record high following the Fed's statement.
Mark Bon, fund manager at Canada Life in London said: "The market had been anticipating positive news on quantitative easing from the Fed, but there was no definitive statement. There has been some profit-taking as the market had gone back near the top of its trading range."
David Thebault, head of quantitative sales trading at Global Equities said: "People have decided to focus on the Fed's assessment of the economy, not on the fact that it is determined to step in if needed. The bottom line is: Things are not improving on the macro front."
FTSE, DAX & CAC fell between 1.1 - 1.3 percent.
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