US Close 7 Jul 16: More pressure on European markets while Us investors focused on the FED

European shares fell on Wednesday, with financial stocks bearing the brunt of the selling. Investor concerns on the uncertainty of the UK's decision to leave the European weighed on sentiment. The STOXX Europe 600 banking index fell 2.6% to its lowest closing level since November 2011. Shares in Deutsche Bank and Credit Suisse touched record lows. The FTSEurofirst 300 index fell by 1.6%, the German Dax fell 1.7%, while the UK FTSE fell by 1.3%. In London trade, shares in BHP Billiton fell 0.3% while Rio Tinto rose 0.2%.

 

* US sharemarkets parred early losses to close higher on Wednesday. The stronger economic data and FOMC minutes -supporting lower rates - lifted sentiment. Most major S&P sectors were higher led by healthcare up 1.2%. The Dow Jones index rose by 78 points or 0.4%. The S&P 500 index rose 0.5% while the Nasdaq rose 36 points or 0.8%.

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