European bourses settled with modest losses, with the Technology sector (down -0.7%) handing back some of last Friday’s (26 May) +3% gain and leaving the pan-European Stoxx 600 index (which includes UK equities) -0.12% lower. The Oil and Gas sector added +0.2%.  Germany's DAX slipped -0.20%. France's CAC eased -0.21%. In broader stock moves, Swedish property group SBB SE rose +2.62% after announcing it was exploring strategic options including a sale of the company or of specific assets and segments. Shares of the company have sunk ~80% over the last year as it struggles with the higher interest rate environment. Elsewhere, President Tayyip Erdogan secured victory in a presidential election in Turkey on Sunday (28 May), extending his increasingly authoritarian rule into a third decade. In economic data, a final reading of eurozone Consumer Confidence for May, and Consumer Inflation Expectations for May are released tonight AEST.

Morgans AM: Tuesday, 30 May 2023

Money News

Money News | 047102023 Dianne Colledge, Private Client Advisor at Morgans

Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states and territories in Australia.

Morgans AM: Tuesday, 30 May 2023

Morgans Financial Limited

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