(Reuters) – European shares fell on Thursday, led by losses in real estate and automobiles and parts stocks following a sharp selloff at Wall Street in the previous session, while investors awaited more economic data from the U.S.
for further clues on the global interest rate path.
The pan-European STOXX 600 index fell 0.3% by 0817 GMT, on track to snap a two-day streak of gains.
In a broad market selloff, shares of automobile and parts led the declines, falling 0.3%, while rate-sensitive real estate stocks slipped 0.6%.
Focus will now shift to the final estimates of U.S. third-quarter GDP and the weekly jobless claims report later in the day for more clues on Federal Reserve’s stance on much-awaited rate cut decisions.
In corporate news, Swisscom shares lost 0.9% after report that the telecom firm is weighing a bid for Vodafone’s Italian business early next year.
The broader telecommunications index was down 0.2%.
Commerzbank topped the STOXX 600, rising 2.9% after it received approval from the European Central Bank to buy back up to 600 million euros ($656.88 million) in shares.
(Reporting by Khushi Singh; Editing by Janane Venkatraman)
