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Miners knock European stocks lower ahead of key central bank decisions -Breaking

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© Reuters. FILE PHOTO : A graph showing the German share price index DAX can be seen at Frankfurt’s stock exchange on October 29th, 2021. REUTERS/Staff

(Reuters) – European shares fell from their record Tuesday levels as traders scanned upcoming central banks meetings to get clues about tapering and rate decision making. Meanwhile, miners were hurt by a fall in iron ore price.

Pan-European stocks fell 0.3% by 0813 GMT. Asian shares were mixed as jitters rose ahead of U.S. Federal Reserve meetings and Bank of England this week, where central banks might reduce pandemic stimulus.

The decline in iron ore prices and the fall in mining stocks caused losses of 2.4% for these stocks.

Due to record earnings, a surge in bank stocks and expectations of an increase in interest rates by the European Central Bank next fiscal year, Monday’s close of the STOXX 600 was a record-breaking high.

However, London-based Standard Chartered (OTC:) slumped 5.7% despite reporting a stronger-than-expected pre-tax profit for the third quarter helped by lower credit charges.

Flutter Entertainment, world’s leading online gambling company, saw its outlook for the full year shrink by 6.7% due to unfavorable sports results as well as a temporary withdrawal from the Netherlands.

HelloFresh’s 12.6% increase in sales after improving its forecast for 2021 helped keep the company afloat.

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