European shares open lower as LEG Immobilien tumbles

LEG Immobilien SE

09/03/2023 08:04

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       March 9 (Reuters) - European shares opened lower on
Thursday, with German real estate firm LEG Immobilien hitting
the bottom of the benchmark STOXX 600 index on dividend
suspension, while investors also fretted about interest rates
staying higher for longer. 
    Shares of LEG Immobilien  LEGn.DE  tumbled 10.6% in early
trading as the company suspended its dividend after posting
full-year results.
    The STOXX 600 index  .STOXX  dropped 0.4%, with real estate
stocks  .SX86P  down 1.7%. 
    European shares fell after closing higher in the previous
session likely buttressed by Federal Reserve Chair Jerome
Powell's comments that the U.S. central bank had not decided on
the size of this month's rate hike.
    But worries lingered after stronger-than-expected U.S. data
supported views that the Fed could keep raising rates.  
    European miners  .SXPP  slid 2.0% after prices of copper
fell as the dollar hovered near a three-month high.  MET/L 

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by
Subhranshu Sahu)
 ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961
144 3740; Twitter: https://twitter.com/s_shreyashi;))